PM Nawaz Sharif rejects increase in petroleum prices in July
ISLAMABAD, Jun 30: Prime Minister Muhammad Nawaz Sharif Tuesday rejected the summary of Petroleum Ministry to
increase the petroleum prices for the month of July.
The Prime Minister announced subsidy of Rs 2.5 billion
to meet the difference in prices of petroleum products.
"With an aim to particularly facilitate the general
public during Ramazan, the government will not increase the
petroleum prices," the Prime Minister said in his address here
at the ground-breaking ceremony of widening of Expressway
project.
The Prime Minister said as per OGRA's (Oil and Gas
Regulatory Authority) recommendations forwarded by Petroleum
Ministry, the petrol prices were to go up by Rs 4.26 per
litre.
However, he said that he personally turned down the
proposal to ensure that there was no price hike during the
holy month.
According to the summary, the price of kerosene was
due to increase Rs 0.67 per litre, besides a sharp increase
in the price of High-Octane Blended Component (HOBC) by
Rs 7.30 per litre.