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Petrol, diesel purchased at Rs35 and sold at Rs80 per litre

Petrol, diesel purchased at Rs35 and sold at Rs80 per litre

ISLAMABAD: The Pakistan State Oil (PSO) has admitted before the Public Accounts Committee (PAC) that petrol and diesel were purchased at Rs30 to Rs35 per litre and sold at Rs70 to Rs80 per litre, and there is no difference in the rate of petrol and diesel.

It was also revealed in the meeting that that power generation companies (Gencos) owe PSO Rs270 billion. The PAC meeting was held on Wednesday with the chair of its Chairman Syed Khursheed Shah in which the audit paras relating to the Ministry of Petroleum and Natural Resources and Ministry of National Food Security for 2013-14 were examined. The PAC meeting started late due to the lack of quorum as the members did not reach on time.

During the meeting, PSO officials told the PAC in reply to a query that petrol and diesel were purchased at Rs30 to Rs35 per litre and sold at Rs70 to Rs80 per litre and there is no difference in the rate of petrol and diesel.

PAC Chairman Syed Khursheed Shah remarked that it was not proper to sell petrol to consumers on double rate. When Syed Khursheed Shah questioned about the rate of tax on the petroleum products, the PSO officials were not aware of it.

The PSO chairman told the committee that different companies owed over Rs253 billion that include Wapda and Gencos owe Rs152 billion, Hepco Rs68 billion and Gepco Rs67 billion. The PSO officials also told the committee that PSO earned the profit of Rs30 billion.

The PAC observed that if the companies did not pay the amount, then the supply of petroleum should be discontinued. The PSO officials replied that if the PSO discontinue the supply, then the country will come under blackout.

While examining the audit para, the audit officials told the committee that that PSO has given over Rs70 million advertisement to advertisement agencies and when asked for the probe report, then an investigation report comprising three pages was given in which no responsibility was fixed.

PAC Chairman Syed Khursheed Shah directed for submission of record of expenditure incurred on advertisements during the last 10 years. The PAC also summoned the Secretary, Ministry of Information and Broadcasting, to its next meeting.

Chairman PAC Syed Khursheed Shah observed that the PPRA rules were being violated and this practise still continued and news were being printed in newspapers after giving advertisements.