ISLAMABAD: The Pakistan’s Prime Minister Nawaz Sharif has rejected the summary for increment in petroleum prices suggested by the Oil and Gas Regulatory Authority (OGRA) on Tuesday.
Prime Minister directed to maintain the current petroleum prices while rejecting the proposed summary to raise them.
The Oil and Gas Regulatory Authority (OGRA) had earlier sent a summary to the Prime Minister, proposing an increase in POL price.
According to details, Finance Minister Ishaq Dar has stated that the government will provide subsidy of Rs. 5 billion and 36 million on petroleum products. Prices of petroleum products will remain unchanged.
It is pertinent to mention here that Oil and Gas Regular Authority had earlier sought an increase in prices at the rate of 2.91 Rs. per liter. Revised prices were supposed to be in effect on January 1st 2014.