Nawaz rejects request for increase in petroleum prices

Federal government decides to maintain a subsidy of Rs2.8 billion on petroleum products.


Web Desk November 29, 2013
Government decides to maintain a subsidy of Rs2.8 billion on petroleum products. PHOTO: PPI/ FILE

ISLAMABAD: Prime Minister Nawaz Sharif on Friday rejected an Oil and Gas Regulatory Authority (OGRA) summary request for increase in prices of petroleum products in the country, Radio Pakistan reported.

Under the directives of Nawaz, all provinces have been notified to retract the price increase.

Instead of increasing the prices, the federal government has decided to bear the brunt, and extend a subsidy of Rs2.8 billion on petroleum products.

COMMENTS (5)

Last Word | 10 years ago | Reply

Pakistan should place orders on bullock-carts which will be shortly needed if oil prices continue to rise at this pace in this country.

bilal. | 10 years ago | Reply

He thinks the nation is a fool.The oil prices have dropped 10-15% in the international market and the genius was about to increase the price.What is even more surprising is that the media is ignoring the drop in international prices.Either they don't know anything or the power of envelope reigns supreme.

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