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Summary Use of petroleum products has been decreased by 10 percent during first 10 months.
Due to hike in POL prices and inflation, use of petroleum products has been decreased by 10 percent during first 10 months of the current fiscal year.According to a report, due to heavy floods and increase in prices in international markets, oil import has also been decreased. Another report claims the country is likely to set Rs 90-100 billion target of revenue in petroleum levy in the coming budget and current deficit may reach $3 billion in the next year due to increase in oil prices in world markets.There is no chance of deregulation of POL prices next month and circular debt may reach Rs 220 billion despite hike in electricity prices.
