Prime Minister Imran Khan has postponed the decision to approve a heavy increase in prices of petroleum products on Monday.

 According to the 24News HD TV channel, the PM has not approved the summary from Oil and Gas Regulatory Authority (OGRA) to raise the petrol prices for the next fortnight.

OGRA has moved a summary of an increase of the price of petrol Rs11 per litre and diesel Rs14 per litre but the PM rejected proposed prices.

Prime Minister Imran Khan said that oil prices were rising due to rising inflation all over the world but his government would do its utmost to save the people of Pakistan from this inflation.

The PM said at that time, the government will bear the burden of this rising cost and will try to save the people from the economic burden.

 

Later, the Ministry of Finance has said that it has decided to maintain the prices of petroleum products.

The Ministry said the Prime Minister has rejected the summary of increase in prices of petrol and diese and directed to maintain the prices through sales tax adjustment.

The Ministry further stated that the government is losing Rs30 billion monthly as it is not meeting the target of sales tax and petroleum levy.

Reporters: Awais Kiyani and Waqas Azeem