The government has rejected the summary of Oil and Gas Regulatory Authority (OGRA) to increase the gas prices. Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi on Wednesday said this while inaugurating the Pakistan State Oil premium quality fuels namely Altron Premium and Altron X High Performance at PSO Defence Service Station.
He said that gas prices will remain unchanged and OGRA has been informed about this decision accordingly, he added. He said the gas provision will be 40 percent less than the demand; however, better gas load management will be made for the public. Prime Minister Nawaz Sharif had made it clear that no increase will be made in gas prices for the domestic consumers. He said the government possesses adequate stock of petroleum products for any prevailing condition.
Abbasi lauded the PSO for its continuous support in helping the government of Pakistan as well as the petroleum ministry for achieving goals of better quality fuels in Pakistan.
"This is a momentous initiative as it renders numerous benefits not only for the consumer, but also for the country's economy at large. To keep the superior quality of the new fuel products intact and prevent adulteration, the color of Altron Premium and Altron X High Performance has been kept different from the other fuels", he added.
"PSO continues to be the industry leader, setting new trends for market players to follow", said MD PSO Sheikh Imran Ul Haque. "The launch of our new product line is yet another testament to Pakistan State Oil's commitment to effectively meet the changing needs of our consumers and to deliver them the best quality products", he added.
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