Prime Minister Muhammad Nawaz Sharif rejected the summary of Petroleum Ministry to increase the petroleum prices

June 30, 2015

ISLAMABAD, Jun 30 (APP): 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