ISLAMABAD - The PPPP on Saturday demanded of the government to lower prices of petroleum products immediately to provide relief to masses in Ramazan and before Eid-ul-Fitr.

In a statement, Additional Secretary General PPPP Senator Mian Raza Rabbani referred to the controversial decision of the Economic Coordination Committee of the Cabinet in the month of February, 2013, that increased the margins of the oil companies and dealers of petroleum by 25 paisas per litre and 41 paisas per litre, called for a detailed study to be carried out within three months for a revision of the said margins.  He said that decision resulted in an additional profit of about Rs 360 million for the oil companies and dealers at the cost of the common man. He maintained that the interim period for the study has come to an end on the 31st of May 2013, and the oil companies continue to enjoy enhanced profits illegally.

It is believed that the petroleum Ministry has sent a fresh summary to the ECC to grant an extension in the current margins for another four months as an interim arrangement. “This collusion between the civil bureaucracy and the cartel of oil companies is at the expense of the common man,” he observed.

Rabbani mentioned that most of the oil companies were making huge profits at the cost of a common Pakistani and then sending them outside of Pakistan. “It is demanded of the government that the petroleum product prices be reduced immediately,” he added.