ISLAMABAD: Prime Minster Mian Mohammad Nawaz Sharif restricted Finance Ministry from the hike in price of petrol and diesel on Friday, ARY News reported.
Following the statement issued by Finance Ministry stating the increase in the price of petrol and diesel, PM Nawaz annulled the decision advising to maintain the price at same level rather than increase.
However, the general public was expecting good news, as suggested by Oil and Gas Regulatory Authority (OGRA) in their summary for the reduction in petroleum prices.
The Ogra had dispatched oil prices summary after completing necessary consultation with oil marketing companies (OMCs) to meet the requirement prior to sending the summary to the ministry of petroleum and natural resources and ministry of finance following the deregulation of POL prices in the country.
On contrary to OGRA, government decided to sustain the price of Petrol, High Speed Diesel (HSD) and High Octane Bleeding Component (HOBC) at 112.76, 116.75 and 137.73.
Although declaring Kerosine Oil as fuel for poor, government reduced its price by Rs.1.24 per liter while Low Speed Diesel (LSD) declined by Rs. 1.02 per liter.