I would like to know if the Finance Minister has the authority to decide the prices of petroleum products, if so why is the taxpayers money spent on useless organizations such as Oil and Gas Regulatory Authority (OGRA)? Moreover a ‘Regulator’ can only play useful role in a free market, where the government does not have monopoly on prices.
How can OGRA protect the interest of consumers, when government uses petroleum marketing companies as a tool to collect revenue? The consumer’s do not know the profit margin of oil producing and selling companies, when one of the major owners of oil and gas sector, is the government. This is the hall mark of our government to fool the consumers, by reducing sales tax on one product and increasing on other, then claiming that government will be giving subsidies in billions, which is less than the tax the government will collect.
Lahore, June 2.