Members of a Senate committee in Karachi raised serious concerns about the recent increase in petroleum prices. They said the hike adds more pressure on people who are already facing economic difficulties.
The issue came up during a meeting of the Senate Standing Committee on Cabinet Secretariat held at the Secretariat Building. Rana Mahmood ul Hassan chaired the meeting.
The meeting included senators such as Saleem Mandviwalla, Amir Waliuddin Chishti, Atta-ur-Rehman, Abdul Qadir and Farooq H. Naek. Anoosha Rehman, special assistant to the chief minister, also joined the meeting online.
Officials from the Oil and Gas Regulatory Authority (OGRA) briefed the committee through a video link from Islamabad.
Committee members said the large price increase seemed to be based on assumptions and asked whether neighboring countries had taken similar steps. Senator Rana Mahmood asked how the petrol price hike would affect ordinary citizens.
Senator Farooq Naek also questioned whether gas prices might rise next and asked how such increases could be justified. He noted that no country in the region had increased petroleum prices by as much as 20 percent.
OGRA chairman Shehzad Iqbal told the committee that the authority only recommends prices to the government. He said the situation is temporary and linked to regional developments, including tensions related to Iran. According to him, prices may stabilize once the situation improves.
Officials also said OGRA does not directly control the operations of Oil Marketing Companies (OMCs), so it cannot take action over operational changes made by them.
When asked about fuel reserves, the OGRA chairman said diesel and oil stocks are sufficient until the end of March with government support. He added that authorities are also working with other stakeholders to ensure continued supply.
Senator Atta-ur-Rehman, who joined online, stressed that the government must not place more burden on the public and should address rising fuel prices as a priority.
K-IV Water Project Discussion
The committee also received a briefing on the K-IV Water Supply Project.
Officials from National Engineering Services Pakistan (Nespak) said the project has recently been transferred to them for supervision. They added that the World Bank will oversee the next steps before implementation begins.
Members were also briefed on the Karachi Red Line Bus Rapid Transit corridor project, which Nespak is managing. Officials said the estimated cost of the project is around Rs80 billion.
Committee members expressed concern about gaps in the project planning. They directed that all relevant authorities attend the next meeting to provide clarification.
The committee also raised concerns about delays and unresolved issues in the project and warned that a formal inquiry could be launched if officials fail to provide satisfactory answers.
