Prime Minister Nawaz Sharif on Tuesday rejected a summary moved by Oil and Gas Regulatory Authority (OGRA) for increasing prices of petroleum products in the country.
“Despite increasing trend in the prices of petroleum products at international level, which also impacts prices at domestic level, the prime minister has rejected the increase in the petroleum prices from January 1, 2014,” Finance Minister Senator Ishaq Dar said in a statement issued by Ministry of Finance.
The finance minister also said that the government will maintain the existing prices of the petroleum products and will not increase them anymore.
“By maintaining the prices of the petroleum products, the government will bear a subsidy of Rs 5.36 billion for providing relief to the people,” he said.
