Petroleum price hike to be revoked on Ashraf's orders
Increase of Rs3.53/litre on petrol will be revoked as per the prime minister's order.
The price of petrol had registered a hike of Rs3.53 per litre. PHOTO: PPI/ FILE
ISLAMABAD:
Prime Minister Raja Pervaiz Ashraf ordered the recent price hike in petroleum products to be revoked on Saturday, Express News reported.
The prime minister assured that the current democratic government did not want to put any additional burden on the masses.
On Thursday, the government had decided to raise petroleum prices by up to Rs4.35 per litre – a move which was opposed by the Oil and Gas Regulatory Authority, Ogra. The regulatory body had recommended that the hike should be adjusted in the budgetary provision.
The regulatory body had said that the rate of levy on petroleum products should be slashed to absorb the impact of oil prices. However, the government had turned down Ogra’s proposal and decided in principle to increase prices.
Earlier, the petroleum ministry had notified the authorities and the oil companies of the increase in prices of all products, including High Speed Diesel (HSD), Light Diesel Oil (LDO) and kerosene oil, were increased.
The price of petrol had registered a hike of Rs3.53 per litre.
Prime Minister Raja Pervaiz Ashraf ordered the recent price hike in petroleum products to be revoked on Saturday, Express News reported.
The prime minister assured that the current democratic government did not want to put any additional burden on the masses.
On Thursday, the government had decided to raise petroleum prices by up to Rs4.35 per litre – a move which was opposed by the Oil and Gas Regulatory Authority, Ogra. The regulatory body had recommended that the hike should be adjusted in the budgetary provision.
The regulatory body had said that the rate of levy on petroleum products should be slashed to absorb the impact of oil prices. However, the government had turned down Ogra’s proposal and decided in principle to increase prices.
Earlier, the petroleum ministry had notified the authorities and the oil companies of the increase in prices of all products, including High Speed Diesel (HSD), Light Diesel Oil (LDO) and kerosene oil, were increased.
The price of petrol had registered a hike of Rs3.53 per litre.