Observer Report Islamabad
Chairman Oil Marketing Association of Pakistan (OMAP) Tariq Wazir Ali on Wednesday has congratulated and appraised Prime Minister Imran Khan and Government of Pakistan for adopting right approach towards setting the prices of petroluem products and issue of Price Differential Claim (PDC) and undo the course on PDC as this timely action has averted a major setback and developing fuel shortage.
In a statement, Chairman Tariq Wazir Ali said that the global cost of oil has been consistently rising, having reached about $83 per barrel of Brent unrefined, as the world’s economy recuperates from the Covid-19 lull.
He added that Federal Government dismissed Oil and Gas Regulatory Authority (OGRA’s) proposed fuel cost increment that was normal on 1st November. OGRA had proposed to build the retail cost of gas by Rs 10.73 per liter, and Rs 7.70 per liter on diesel.
The Chairman further observef that the Government appropriately needed to shield buyers and the economy from rising global oil costs, and subsequently dismissed OGRA’s proposition.
Rather they concocted a system to basically sponsor the expanded expenses for the end client; Oil Marketing Companies would name the above increment as a “Price Differential Claim (PDC)”, a sum that OMCs might have later guaranteed from the Government as a discount.
The issue is that the Federal Government has as of now founded such a PDC before they actually have not completely discounted organizations’ PDC sums that was charged as much as 13 years prior, he added.
