The Pakistan People's Party has demanded of the government to reduce prices of petroleum products forthwith as the prices of oil in international market have fallen down to 58 dollars per barrel.
It also demanded to institute a case against responsible persons on the basis of investigation conducted by National Accountability Bureau (NAB) apropos of a scandal involving petroleum prices and all those involved should be arrested.
In a press statement issued here on Wednesday Malik Liaquat Ali Dogar, MNA, Begum Nasim Chaudhry, MNA, Dr Javed Siddiqui MPA, Malik Arshad Rana MPA and Syed Nazim Hussain MPA said the prime minister, two ministers and three secretaries were involved in the scandal.
They said that since the government came into power the people had been facing hardships due to increasing oil prices. According to the Pakistan State Oil Company Ltd, in the year 2004-05 Pakistan's total requirement was 16 mm/ tonne out of which Pakistan's own crude oil served for 17 percent of the needs whereas 83 percent was imported.
They alleged that the fraud began after the government assumed power in 1999. The NAB revealed it in a report that was being demanded by the standing committee of the National Assembly but it is not presented yet.
The PPP is releasing its facts sheet. The report titled 'Fudging in the Petroleum Prices' was sent to the NAB Headquarters, Islamabad. It is for the first time that the NAB has termed the case a mega corruption, they added. They said as per the report the fraud began in 1999, and in 2001 a deregulation summary of petroleum products was sent.
In 1963 the system was changed and the price determination was made through oil marketing companies. "The planning commission had reservations on it. But after dismissing the reservations, the government issued Ogra ordinance on March 28, 2002, for bringing profit to the companies," they added.
They said the government after allowing the sale of oil at high prices had given the oil companies a free hand. In June 2002, six percent regulatory duty was placed.
They said that during 2000-01 the National Refinery Limited (NRL) earned profits worth Rs 23 million, the Pakistan Refinery Limited (PRL) Rs 76 million, the ARL Rs 29 million and the PARCO Rs 1,279 million.
In 2001-02, the NRL revenue was increased to Rs 709 million from Rs 23 million, PRL RBD profits surged from Rs 76 million to Rs 610 million, the Attock Oil Refinery profits increased from previous Rs 23 million to Rs 727 million and PARCO's revenues reached Rs 2,361 million from previous Rs 1,279 million.
They said that In 2003 NRL profits were Rs 776 million, PRL Rs 824 million, ARL Rs 269 million and PARCO Rs 2,361 million. In the year 2004, NRL profits rose to Rs 1,243 million, PRL Rs 734 million, ARL Rs 383 million, PARCO Rs 2,361 million.
They said during the year 2004-05 NRL profits were Rs 2,459 million, PRL Rs 1,381 million, ARL Rs 1,285 million and PARCO Rs 8,917 million. In the year 2005-06 NRL profits raised to Rs 3,745 million, PRL Rs 2,107 million, ARL Rs 1,426 million and PARCO at Rs 9,627 million.
In the past 5-6 years, NRL earned profits 16,000 folds, PRL 2,672 folds, ARL 4,817 folds and PARCO 652 folds. In high speed diesel 0.5 percent sulphur was present.