ISLAMABAD - PPP yesterday moved an adjournment motion seeking to debate the insufficient reduction in petroleum prices.

The motion was moved by PPP Senator Farhatullah Babar. The motion seeks to debate “a matter of urgent public importance arising out of not reducing the petroleum products prices commensurate with the fall in international oil prices and not even as recommended by the Oil and Gas Regulatory Authority.”

It states: “OGRA had recently recommended price reduction of Rs 11 per litre in petroleum prices which itself was too little in view of the sharp decline in oil prices in international market. However, the government announced Rs 5 per litre reduction”.

“It is not only a joke with the people but also raises serious questions about wasteful and non-transparent utilization of windfall gains the government has made from the massive and continuous reduction in global oil prices ,” it said.

“Whereas inflation and joblessness is on the rise and prices of essential commodities in the country are also continuously rising, the people expect that the steep fall in the global oil prices would be utilised to provide them some relief,” stated the motion.

The House may be adjourned to discuss this matter of urgent public importance with a view to persuading the government to revisit its oil price policies, the motion added.