ISLAMABAD: Ministry of Petroleum on Monday informed the Islamabad High Court (IHC) that the government has increased the price of petroleum products due to an increase in petroleum prices in the international market.
“Yet the price of petrol is low as compared to the neighbouring countries including India, Sri Lanka and Bangladesh,” a representative of the ministry told Justice Shaukat Aziz Siddiqui who was hearing a plea moved by Peer Mazhar Hussain Shah challenging the recent increase in prices of petroleum products.
The counsel for the petitioner objected and informed the bench that in the last sixteen months government has increased prices of the petroleum products 15 times which is causing undue inflation in adding that there should be a fair price control system in the country.
Meanwhile, representatives of Ministry of Finance and Oil and Gas Regulatory Authority (OGRA) sought more time to submit their reply.
The bench while accepting their plea directed them to submit a reply within a week and adjourned further hearing of the case till February 20.
