Fund created to mitigate oil price shocks

ISLAMABAD: The government on Monday notified a new head of account to establish a price stabilisation fund for petroleum products, following a June 5 decision by the federal cabinet. “All proceeds received in the name of the Petro­leum Prices Stabilisation Fund will be credited to the Public Account of the Federation under the major head ‘Special Deposit Fund’,” stated a notification issued by the Ministry of Finance. The notification expla­ined that the modalities, including the operating pr...

By none@none.com (The Newspaper's Staff Reporter)