ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has received the first tranche of Rs27 billion from the Prime Minister’s Austerity Fund to settle Oil Price Differential Claims (PDC), following directives from Shehbaz Sharif.
The initiative is part of the government’s broader effort to cushion consumers from the impact of rising global oil prices. OGRA will disburse the PDC once audited claims are submitted by Oil Marketing Companies (OMCs).
Officials said the funds were mobilized through various expenditure reduction measures undertaken by the federal government and subsequently deposited into the Prime Minister’s Austerity Fund.
The government is also exploring further cost-cutting strategies to sustain public relief while maintaining fiscal discipline and identifying additional savings.
Since March 1, accumulated PDC has surged to Rs69 billion as the government absorbed the impact of rising fuel prices. During the same period, petrol and high-speed diesel (HSD) prices have increased by around 20 percent, while fuel supply costs have escalated by nearly 150 percent.
The development reflects the government’s continued commitment to managing inflationary pressures and stabilizing fuel prices amid volatile international markets.
Story by Wasim Iqbal
