Tax free petroleum products, subsidy can provide relief: Dr Asim Hussain

Says OGRA should be under the contro­l of the Minist­ry of Petrol­eum, to manage it in an effect­ive manner.

ISLAMABAD: Federal minister for Petroleum and Natural Resources Dr Asim Hussain said on Sunday that tax free petroleum products and subsidy can provide relief to the masses.

Talking to Pakistan Television Channel (PTV), he said that introducing tax free petroleum products would greatly help resolve public issues, adding that this measure was not being adopted anywhere in the world.

He said that the provision of subsidy by the government on petroleum products can also decrease burden on people, however, he added that giving subsidy would be a difficult step for the incumbent government.

Dr Hussain also said that asking for an extra budget to maintain prices would not prove to be helpful because the deficit would augment after utilizing this amount.

In reply to a question, Dr Hussain clarified that the Oil and Gas Regulatory Authority (OGRA) was responsible for changing prices of petroleum products, adding that the Ministry of Petroleum was not involved in the increment of prices.

“OGRA should be under the control of the Ministry of Petroleum, to manage it in an effective manner,” he suggested.

Senior Leader of the Pakistan People’s Party Mirza Ikhtiar Baig seconded the minister’s statement by saying that OGRA should be given under the control of the Ministry of Petroleum so that all matters pertaining to determining the price of petroleum and generation of energy could be addressed in a befitting manner.

Baig pointed out that in the present situation, the business community, the industrial sector and other departments were also demanding to put OGRA under the Ministry of Petroleum.

Speaking to the channel, Chairman Pakistan State Oil Sohail Wajahat Siddiqui said, "Collective efforts are required to resolve energy issues," adding that all the stakeholders need to come forward to resolve the energy crisis.