Prime Minister Imran Khan rejected the summary by authorities to increase petrol price by Rs11 and diesel by Rs 14.
Dr. Shahbaz Gill, Special Assistant to Prime Minister on Political Communication, informed in a tweet.
Dr. Shahbaz Gill, Special Assistant to Prime Minister on Political Communication, said:
“The Prime Minister said that oil prices were rising due to rising inflation all over the world but the government would do its utmost to save the people of Pakistan from this inflation.
Dr. Shahbaz Gill informed that this is why the Prime Minister Imran Khan deferred this summary.”
Dr. Shahbaz Gill, Special Assistant to Prime Minister on Political Communication, also informed:
“At this time the government will bear the burden of this rising cost and will try to save the people from it.”
OGRA Summary for Petrol Price Hike
Earlier, The Oil and Gas Regulatory Authority (OGRA) has prepared a summary, seeking an increase in petroleum prices from February 1.
According to sources privy to the decision, the regulator has recommended an increase in petroleum prices by Rs13 per litre.
The authority has suggested an increase of Rs12 per litre in the price of petrol and Rs13 per litre in the price of diesel.
Sources said that Oil prices have surged by up to $5 per barrel in the global market. In addition to that, they said the government has to increase the levy on petroleum products by Rs4 per litre as committed with the International Monetary Fund (IMF).
Currently, sales tax on petrol is Rs2.9 per litre while that on high-speed diesel Rs4.50 per litre, kerosene oil Rs5.26/litre, and light-speed diesel Rs2.80/litre.
Earlier, On Jan 15, the federal government had jacked up prices of petroleum products by up to Rs3 per litre.