ISLAMABAD: Prime Minister Shehbaz Sharif has rejected a proposal by Oil and Gas Regulatory Authority’s (OGRA) seeking a staggering hike the prices of petroleum products.
The decision was announced through PML-N’s economy account. PML-N leader Ahsan Iqbal also confirmed that the prime minister has rejected the proposal as they do not want to burden the masses and the country is already facing adverse economic situation.
According to report, there will be no change in the price of petroleum products as of now. The government will bear the burden of the hike in the prices of petroleum products itself instead of shifting it to the masses.
Earlier OGRA had sent a proposal to the Finance Division to increase the price of petrol by Rs21.50 and diesel by Rs51.30 (based on existing/current petroleum levy and GST).
OGRA had suggested an increase of Rs83.50 per litre of petrol and Rs119.88 per litre of diesel (based on the federal government’s advised petroleum levy of Rs30 and 17% GST). It is worth mentioning that currently, the petrol price in Pakistan is Rs149.86 while diesel is available at Rs144.15, with zero per cent levy and GST.
On February 28, former prime minister Imran Khan announced a reduction of Rs10 per litre in petrol and diesel prices and a price freeze till the announcement of the budget for 2022-23.
