Pakistan Petroleum Product Prices Set To Fall Aug 1

Prices of petroleum oils and lubricant products in Pakistan are due to be reduced from Aug. 1 after the government adjusted oil marketing companies’ margins, The Dawn newspaper reported on its Web site Wednesday, citing Asim Hussain, adviser to the prime minister on petroleum. “Now the government has fixed PKR10 as (the) petroleum levy…whenever international prices fluctuate local rates will move in the same direction,” The News reported Hussain as saying. Hussain also said the government planned a roadshow in London next month and expected energy and power sector investment of $10 billion-$15 billion over the next five years, the News reported. (July 15, 2009)