Nawaz Sharif turns down OGRA summary for the increase of petroleum prices

Lahore : Prime Minister Muhammad Nawaz Sharif has turned down an increase in fuel prices proposed by Oil and Gas Regulatory Authority (OGRA), said minister for Finance, Muhammad Ishaq Dar in a video release here Friday.

He said OGRA had recommended to increase the prices of 4 out of 5 petroleum products by around 6 percent while the price of one product was recommended to be decrease by less than a rupee.

“The summary was presented to the Prime Minister for further discussion but he rejected it by saying that government wants to keep the prices stable in the country to facilitate common people”, Dar said, adding  as per decision of the PM, the prices of all petroleum products would remain unchanged for from October 1, 2016.

The finance minister said according to the decision of Prime  Minister, the loss incurred for not increasing the prices of petroleum products would be borned by the ministry of finance.