ISLAMABAD: The government in the face of opposition pressure was left with no option but to reverse the recent increase in petroleum product prices. Prime Minister Syed Yousuf Raza Gilani made this announcement while addressing the National Assembly. He said, "I think that this task was extremely difficult and it became more difficult in the absence of support of political leadership.
We took this decision in today's meeting in which parliamentary leaders of all political parties participated and the Finance team gave a comprehensive briefing about the situation."
"The prices of petroleum products have now revert to the level of October 31, 2010," he said. The Prime Minister also proposed the House to constitute a Parliamentary Committee to assist the government chalk out strategy as to how to resolve the issue of oil prices as international market prices are fluctuating. Earlier, the meeting of parliamentary leaders was convened after overwhelming pressure of the opposition parties for scrapping the recent increase in prices of petroleum products.
The proposal of holding a meeting of parliamentary leaders with the Prime Minister on increase in petroleum price was given by Awami National Party (ANP) Chief Asfandyar Wali Khan and independent MNA Zafar Beg Bhittani during last Monday sitting. After the announcement of the Prime Minster to reverse recent increase, Opposition leader Chaudhry Nisar Ali Khan and members of PML-Q, MQM, and JUI-F appreciated the decision of the government.
They said the Prime Minister has not only accepted the demand of the parliament especially opposition parties but gave relief to 170 million people of Pakistan. "Now, the Prime Minister should take decisions taking the Parliament into confidence to overcome economic crisis, gas loadshedding and price hike," they said.
Opposition leader Chaudhry Nisar Ali Khan appreciated the government decision. "Today, the Prime Minister bowed to the demands and difficulties of the people and the Parliament. It is not defeat or victory of anybody but it is greatness of the Prime Minster," he said. He said that nowadays, the people are facing massive load shedding of gas in chilly weather. Now the government should work on war footing to overcome gas loadshedding to give relief to the people," he said.
Haider Abbas Rizvi of MQM also appreciated and congratulated the whole nation and the Prime Minister. He said the government should take steps to reduce price hike, power tariff and overcome gas loadshedding.
He suggested the parliamentary committee proposed by the Prime Minister should not only have the power to resolve the issue of petroleum price, but should also be mandated to chalk out economic roadmap to pull the country out of economic crisis. Asfandyar Wali Khan said that it is a bold step of the government and it has been done with the support of political parties. Now all the opposition parties and the government should sit together and prepare strategy for economic stability of the country.
Maulana Atta-ur Rehman of JUI-F appreciated the decision of the government saying, "If the government takes such decisions, it would be better for its survival," he said. The price of petrol which was increased by Rs6.71 per litre to Rs79.67 now stands at Rs72.96; rate of diesel hiked by Rs4.25 per litre to Rs82.58 reverts to Rs Rs78.33; price of High Octane Blending Content (HOBC) raised by Rs7.79 per litre to Rs94.24 returns to Rs86.67 while the increases in prices of light diesel and kerosene oil by Rs4.36 and Rs4.04 per litre, respectively, have also been lowered.