pakistan
Govt introduces new mechanism to stabilise petrol prices
Key takeaways
- Add ARY News on Google AAResize ISLAMABAD: The federal government has established a Petroleum Prices Stabilisation Fund (PPSF) to help manage fluctuations in petroleum product prices.
- The Ministry of Finance on Tuesday issued a notification creating a new head of account for the fund, following the federal cabinet’s approval on June 5.
- The necessary approvals for the mechanism will be obtained separately.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize ISLAMABAD: The federal government has established a Petroleum Prices Stabilisation Fund (PPSF) to help manage fluctuations in petroleum product prices.
The Ministry of Finance on Tuesday issued a notification creating a new head of account for the fund, following the federal cabinet’s approval on June 5.
According to the notification, all proceeds received under the Petroleum Prices Stabilisation Fund will be credited to the Public Account of the Federation under the major head “Special Deposit Fund.” A separate account head and object code have also been allocated for the fund.
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