Senate committee questions Ogra over recent fuel price hike

KARACHI: Members of the Senate Standing Committee on Cabinet Secretariat voiced strong concerns on Tuesday regarding the recent significant increase in petroleum prices, describing the move as an added burden on the public. The meeting took place at the Secretariat Building in Karachi and was chaired by Rana Mahmood ul Hassan.

Senators Saleem Mandviwalla and Amir Waliuddin Chishti attended the session in person, while Atta-ur-Rehman, Abdul Qadir, Farooq H. Naek, and Special Assistant to the Chief Minister Anoosha Rehman joined virtually. Senior officials from the Oil and Gas Regulatory Authority (Ogra) provided a briefing to the committee during the meeting.

Committee members demanded a clear justification for what they described as an 'assumption-based' increase in fuel prices. They questioned whether similar measures had been adopted by neighboring countries facing comparable circumstances. The senators stressed that the recent hike placed further financial strain on an already struggling population.

During the briefing, Ogra Chairman stated that fuel prices could stabilize if the ongoing conflict involving Iran subsides. He explained that the current price increase was influenced by international developments, particularly the situation in Iran, which has affected global oil markets.

The committee pressed Ogra officials to elaborate on the methodology used to determine the new prices and sought assurance that the interests of Pakistani consumers were being protected. Members also asked for comparative data on fuel pricing policies in neighboring countries to better understand the rationale behind the recent decision.

The session concluded with the committee emphasizing the need for transparency and urging Ogra to consider the economic challenges faced by citizens when making future pricing decisions.