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No change in petroleum prices as PM rejects summary for POL price hike

ISLAMABAD: Prime Minister Nawaz Sharif has said that there will be no change in petroleum prices during the next month and rejected a summary sent by the Oil and Gas Regulatory Authority (OGRA) recommending increase in prices of petroleum products.

The federal government will give 2.8 billion rupees subsidy to maintain the present prices of petroleum products.

The OGRA had sent a summary to the finance and petroleum ministries, suggesting an increase in prices of petroleum products up to 5.22 rupees per liter.

The summary suggested to mount petrol price by 0.85 rupees per liter, High Speed Diesel by 1.34 rupees, Kerosene Oil 1.18 rupees, Light Diesel 0.82 rupees, and High Octane by 5.22 rupees per liter.

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Following rejection of petroleum products price hike and the OGRA summary by the prime minister, the current prices of all petroleum products will be maintained for month of December.

The finance ministry said that the federal government will render subsidy of 2.8 billion rupees by not increasing cost of the petroleum products’ prices in next month.

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Asad Haroon
Asad Haroon
A netpreneur, blogger and above all; A Human :) Asad tweets from @aghaasadharoon and can also be approached on Google+

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