Pakistan govt implementing reforms for improvement in petroleum sector

ISLAMABAD: Pakistan government is implementing comprehensive reforms for bringing improvement and transparency in the petroleum sector, Radio Pakistan reported.

According to Petroleum Division, a Track and Trace System has been introduced to eliminate smuggling at petrol pumps and within the fuel supply chain.

A Raahguzar Mobile App has been launched to provide information about legal petrol pumps.

Fuel tankers, terminals and retail outlets are being connected to an integrated system.

Automatic tank gauges and digital nozzles will be installed at petrol pumps for better monitoring and transparency.

The bidding for offshore oil and gas was held last year after eighteen years with bids received for twenty three blocks.

A new online portal will be introduced to ensure transparency in the bidding process for oil and gas blocks.

Amendments have been made to the Petroleum Act of 1934 to enforce stricter actions against illegal petroleum products.

A transparent reporting system has been implemented in the gas sector to ensure accurate reporting of demand and supply, prices and circular debt.

Levy jacked up

According to the official documents, the Pakistan government jacked up the petroleum levy on petrol and high-speed diesel.

The levy on petrol has been raised by Rs4.65 per litre, increasing the petroleum levy from Rs79.62 to Rs84.27 per litre. Similarly, the levy on high-speed diesel has been increased by Rs0.80 per litre, taking it from Rs75.41 to Rs76.21 per litre.

Documents show that had the petroleum levy been maintained at its previous level, petrol prices could have been reduced by Rs4.65 per litre, while diesel could have been cheaper by Rs0.80 per litre.

The petroleum levy on kerosene oil has also been raised by Rs1.41 per litre, increasing it from Rs18.95 to PKR 20.36 per litre.