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Prime Minister Imran Khan rejects summary to increase POL prices

Prime Minister Imran Khan rejects summary to increase POL prices
August 31, 2020 06:26 pm

ISLAMABAD (92 News) – Prime Minister Imran Khan has rejected the proposed increase in the petroleum products due to rains and flood-like situation in the country. Rejecting the summary, the prime minister said that the masses cannot be burdened with further increase due to present conditions. According to sources in the Finance Ministry, the government was likely to increase the prices of petroleum products by Rs9 per litre for next 15 days. They said that the revised formula was based on increased levy on petrol and diesel. The Oil and Gas Regulatory Authority (OGRA) had recommended the summary regarding price hike to the government. After the approval of Prime Minister Imran Khan, the new prices was to be applicable from September 1, the prices will be fixed for 15 days. Following to exchange rate fluctuation and new pricing mechanism, the OGRA has estimated an increase of about Rs9 per litre in the prices of petrol and HSD for the September 1 to 15 time period. In the previous month, the PTI-led government dropped ‘inflation bomb’ on masses, increasing prices of petroleum products by up to Rs9 from August 1. The government increased prices of petroleum products by as much as Rs9 per litre from August 1, just a day ahead of Eidul Azha. The price of petrol increased by Rs5 while high speed diesel (HSD) may go up by Rs9. The summary will be forwarded to the Ministry of Finance today.

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