Petroleum minister says government understands pub...

Summary

• LAHORE: Federal Petroleum Minister Ali Pervez Malik has acknowledged growing public concerns over the recent increase in petroleum product prices, saying the government is aware of the difficulties being faced by citizens because of rising fuel costs.
• Speaking to the media in Lahore, the petroleum minister said the government had been compelled to increase petroleum prices in line with developments in the international market.
• The minister said petroleum prices in Pakistan were influenced by developments in the international market and that any significant decline in global prices would provide room for the government to reduce domestic petroleum rates.

AI Generated Summary

LAHORE: Federal Petroleum Minister Ali Pervez Malik has acknowledged growing public concerns over the recent increase in petroleum product prices, saying the government is aware of the difficulties being faced by citizens because of rising fuel costs.

Speaking to the media in Lahore, the petroleum minister said the government had been compelled to increase petroleum prices in line with developments in the international market. He said the government would review fuel prices if rates in the global market declined.

“ We understand the difficulties caused by the increase in petroleum prices,” Ali Pervez Malik said, adding that the government had taken the decision in view of prevailing international conditions.

The minister said petroleum prices in Pakistan were influenced by developments in the international market and that any significant decline in global prices would provide room for the government to reduce domestic petroleum rates.