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Chairman Senate Standing Committee on Interior Senator Talha Mehmood stressed the need for reducing petroleum prices, which registered record low in the international market. Oil prices have slipped to less than US $58 per barrel that was the lowest level in the last 21 months, Senator Talha said in a statement here on Friday.
"Now our government needs to considerably cut the petroleum prices and facilitate the masses," he said. He urged Oil and Gas Regulatory Authority (Ogra) to take necessary measures in this respect, arguing it would be great service to the poverty-stricken masses, who are already hit by power crisis, flour shortage and scarcity of essential commodities etc.
"People are pinning high hopes on the government, which should live up to expectations of the countrymen," Senator Talha maintained. He said it was unfortunate that Ogra take no time to increase oil prices when its prices increase in international market, but it forgets to reduce prices when there is price reduction.

Copyright Business Recorder, 2008

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