OGRA chairman hints at further increase in petrol prices

Islamabad: The Oil and Gas Regulatory Authority (OGRA) Chairman Masroor Khan on Wednesday hinted at further increase in petrol prices from March 1.

The National Assembly (NA) Standing Committee on Petroleum convened a meeting, in which, the OGRA chairman hinted that the prices of petroleum products will go up from March 1.

OGRA Chairman Masroor Khan said that the price of oil which has gone up in 12 weeks is unprecedented. The rupee has also depreciated against the dollar. The government is receiving Rs14 petroleum levy while GST is zero. The money coming into the treasury is being compromised.

The chairman of the committee asked how much the situation in Russia would make a difference. In response, the chairman said that as the prices go up, the burden will fall on the people. “The formula of price is same as before,” he added.