ISLAMABAD, Mar 09 (APP):Federal Minister for Petroleum Omar Ayub Khan Monday told the National Assembly that there were only two weeks of foreign exchange reserves left when the Pakistan Tehreek e Insaf government took reigns of the country.
Responding to a question regarding fuel prices, the minister said fuel price adjustment in the government of Pakistan Muslim League-N (PML-N) was negative, as sales tax and Petroleum Development Levy (PDL) was 45 percent but they did not pass on the relief to masses.
He further said the PTI government besides maintaining the fuel price after its decrease on international level passed on the relief of Rs. 5 to masses.
He said the former finance minster spent Rs.24 billion to artificially maintain the value of US dollar which later caused devaluation of rupee.
He said the government was gradually decreasing its reliance on Residual Fuel Oil (RFO) and searching for alternate energy means to provide maximum relief to masses in future.
To another question, he said during winter, gas consumption by domestic sector increase manifolds.
“Gas consumption by domestic sector on SNGPL network during July 2019 was 408 MMCFD which increased to the level of 990 in December 2019 and crossed 1100 MMCFD during January 2020,” he added.
On the other hand, only 950 MMCFD indigenous gas was currently being received by SNGPL which could not cater the winter demand of only domestic sector, he said.
The minister further responded that there was no addition of indigenous gas into company’s network since last many years.