ISLAMABAD – In a last ditch effort to appease the protesting opposition and handle the politically-charged environment, the government is considering withdrawal of the increase in petroleum prices.
An informed source confided to Pakistan Today that the finance minister would brief Prime Minister Yousaf Raza Gilani today (Tuesday) about the possibility of withdrawing the increase in petroleum prices. The source added that the decision would cost a loss of Rs 4 to 5 billion if the government decides to subsidise the petroleum products.
However, any decision would be taken in consultation with President Asif Ali Zardari, the source added. The number-strong opposition had made a strong protest during Monday’s session of the National Assembly on petroleum prices increase pushing the government to adjourn the session while a consensus proposal was made to form a parliamentary committee to review the increase in petroleum prices.
Government mulling withdrawal of petroleum prices increase
