The federal government is considering a review of the pricing template for Premium Motor Spirit, PMS, and might effect a further reduction in the price of the commodity from April 2016.
This was stated by the outgoing Executive Secretary of the Petroleum Products Pricing Regulatory Agency, PPPRA, Mr. Farouk Ahmed, on Thursday.
According to him, the decision on the review of the price of PMS would be taken next month by the Minister of State for Petroleum Resources, after due consultations with stakeholders and based on the price of crude oil in the international market.
“Yes, wait till March, you will see because the minister is fair in the decision he will take; because he will take the decision pragmatically,” Ahmed responded, when asked about the possibility of a likely reduction in the price of PMS.
– Vanguard
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