Minister for Petroleum Ali Pervez Malik informed the Senate on Thursday that local refineries met around 30 to 40 per cent of the country\u2019s petrol requirement, with the remaining demand met through imports.
\nReplying to questions during Question Hour, he said Pakistan produced about 60,000 to 70,000 barrels of crude oil daily, while refinery capacity stood at around 450,000 to 500,000 barrels a day. Refineries therefore also processed imported crude, he added.
\nPervaiz Malik said the government was importing crude oil to enable local refineries to meet domestic diesel demand, as refined products had become expensive and refineries in the region faced constraints.
\nDuring peak demand, some refined fuel could also be imported through the Pakistan State Oil (PSO), he said. The Oil and Gas Regulatory Authority (OGRA) reviewed demand and supply twice a month and procured products through competitive tenders.
\nThe minister said the petroleum price breakdown, including duties and levies, was available on OGRA\u2019s website.
\nHe said an Rs 80 per litre petroleum levy applied to both petrol and diesel under the agreement with the International Monetary Fund, along with a Rs5 per litre climate support levy.
\nThe collections were deposited in the government\u2019s consolidated fund; the Finance Ministry could provide details about their allocation, he added. On refinery upgrades, Pervaiz Malik said the government was revising the refinery policy.
\nHe also said a meeting with the chief minister of Balochistan was planned in Quetta the following week to discuss gas supply and slab-related concerns. The province had about 300,000 gas connections, including around 250,000 in Quetta, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Minister for Petroleum Ali Pervez Malik informed the Senate on Thursday that local refineries met around 30 to 40 per cent of the country\u2019s petrol requirement, with the remaining demand met through imports. Replying to questions during Question Hour, he said Pakistan produced about 60,000 to 70,000 barrels of crude oil daily, while refinery capacity […]<\/p>\n","protected":false},"author":2,"featured_media":574954,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-574943","post","type-post","status-publish","format-standard","has-post-thumbnail","category-national"],"yoast_head":"\n