PM rejects summary seeking hike in petroleum prices
PM says the government will give Rs 1.5 billion subsidy to keep the prices at the existing level.
ISLAMABAD (Dunya News) - Prime Minister Nawaz Sharif has rejected a summary sent by the Oil and Gas Regulatory Authority (OGRA), seeking an increase in petroleum products prices from June 1.
Rs 1.30 per litre increase in petrol price, Rs 1.81on diesel, Rs 0.80 on light diesel, Rs 0.62 on kerosene oil and Rs 2.43 on per litre price of high octane blending component (HOBC).
OGRA also recommended that the prices could be retained if government reduces levy on petroleum products.
However, the prime minister said that the government will give Rs 1.5 billion subsidy for maintaining the prices of petroleum at the existing level.
