A prudent downward readjustment of multilayer import taxes on petroleum products is highly recommended by economists as an option to avoid the Mideast war-fueled hikes in fuel prices.
Another exigent remedy shown is a cut in BPC profit to skirt both tax lowering and price increase for consumer at this hour of income-sapping high inflation.
Global oil prices rose above $119 per barrel Monday--the sharpest increase since 2022--amid the expanding conflict involving the United States-Israel duo and Iran.
The tariff readjustment would help keep domestic fuel prices stable without hurting government revenue, economists suggest.
Some major decisions on energy security may emerge from a vital meeting discussion today (Wednesday", energy ministry officials have said.
