Prime Minister Imran Khan has rejected a summary to increase the price of petroleum products, 24NewsHD TV channel reported on Tuesday.
According to sources, the premier issued directives to the finance ministry to present a revised summary. The insiders said the summary suggested imposing a Rs4 per litre levy under the IMF agreement.
Reportedly, prices of all key petroleum products have been estimated to go up for the next 14 days.
Oil prices have hit their highest level since 2014, reaching $95.56 a barrel. If the situation in Ukraine deteriorates, oil and gas supplies from Russia to Europe may be interrupted.
Reporter: Awais Kiyani