Pakistan will not reduce petrol prices

In view of a failed gas pipeline project with Qatar, the Pakistani government said in April that the prices of petroleum products would not be reduced anytime before June and they will not be giving subsidies for petroleum products, either, as the imported cost of per liter petrol stood at Rs28.44 (US$0.35) as of February 22, whereas its sale price was Rs57.66 (US$0.72) per liter. The imported cost per liter of diesel ranged between Rs25.40 (US$0.32) to Rs27.93 (US$0.35) per liter as of March 1, while its sales price was Rs57.14 (US$0.71). However, Minister for Parliamentary Affairs Babar Awan informed the House that all new petrol-driven vehicles imported or locally manufactured would comply with the Euro-Two emission standards from 1st of July this year while diesel-driven vehicle will comply from July 1,2012. He said that about two million vehicles have been converted to CNG and the government has decided to introduce 8000 CNG buses in major cities of the country. The National Assembly has a plan to modernize the country’s ports to international standards. Minister for Ports and Shipping, in part of the plan, started dredging Port Qasim at a cost of US$150 million to be completed in 2011. The other plan to be completed next year is the Container Terminal at a cost of US$250 million with the help of Dubai Port World. A coal and cement terminal would also become operational in 2011 at a cost of US$175 million. (April 14, 2009)