Nawaz rejects request for increase in petroleum prices
Federal government decides to maintain a subsidy of Rs2.8 billion on petroleum products.
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.
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.