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Govt rejects petrol prices hike summary

ISLAMABAD: Federal government rejected Oil and Gas Regulatory Authority’s (OGRA) summary of increasing prices of petroleum products, ARY News reported.

According to Finance Minister Ishaq Dar, the federal government made the decision of retaining the current prices on the orders of Prime Minister Mian Mohammad Nawaz Sharif and in view of the holy month of Ramazan.

It should be noted that OGRA had submitted summary of increasing prices on petroleum products to the ministry of petroleum earlier this week.

OGRA had recommended Rs. 0.85 increase on per liter petrol price, Rs. 6.69 on per liter high speed diesel, Rs. 2.18 on per liter high octane, Rs. 4.57 on per liter kerosene oil and Rs. 4.47 hike in per liter price of light diesel.

The request for raising prices on petroleum products was made due to increase in general sales tax (GST).

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