Government presents petroleum prices formula

For the first time during the recent years, the government has presented the petroleum price-increasing formula before the public. Adviser on Petroleum Dr Asim said that the government suffered five million dollars every day owing to the delay in IPI Gas Pipeline Project. Presenting the formula in Islamabad in a press conference, Asim said that the formula was completely transparent. He said that the project of biggest oil refinery in Balochistan was not wrapped up, however, it was delayed due to the global financial crunch. He said that the government would give reserve funds to those companies that would give contracts to the government for storage and product improvement.