ISLAMABAD: Government has set up special fund for stability in the prices of petroleum products. Government has established Petroleum Prices Stabilization Fund (PPSF) under federal cabinet decision. Finance ministry has issued notification regarding establishment of PPSF. All the resources of fund will be deposited in the public account of federation. Separate accounting head has been allocated for PPSF. Finance ministry , petroleum division and OGRA will work out procedure for operating OGRA fund. According to notification financial and administrative rules of fund will be approved separately. Government introduced new financial mechanism for stability in prices of fuel. OGRA and ministry of finance will prepare fund governance and operational framework. State bank, provincial governments and the respective institutions have been informed about establishment of fund. Online
