Caretaker Petroleum and Natural Resources Minister Chaudary Ahsanullah Khan has said the caretaker government has left the issue of revision in oil prices for the next elected government.
Addressing a press conference here on Monday the minister asserted that the on-going gas load management was a seasonal phenomenon and the situation will improve drastically as soon as winter bitterness reduces and supply to domestic sector comes to normal level. He said SSGC and SNGPL were providing additional gas to the domestic sector for fighting out the chilly weather during peak winter season in January and February, which disrupted supply to industrial and commercial sectors.
The minister added that gas supply would be resumed to affected sectors as soon as the distribution companies get normal supply. He dispelled the impression that oil stocks were hitting the rock bottom, claiming that as on January 7, fuel for ships is available for 20 days, diesel for 13 days, petrol for 7 days, kerosene oil for 4 days and high octane for 13 days.
He said 70 percent exploration and production (E&P) work in oil and gas sector was being done by Chinese engineers and killing of some of them in the recent past hit it hard. The minister added that accord on price mechanism for import of gas from Iran under IPI would be signed in next week without participation of India.
However, he did not rule out India's participation, saying Islamabad will welcome Delhi's entry into IPI project in the future.