PM Nawaz rejects Ogra summary for increasing Petroleum prices

MANSEHRA (Staff Report) - Prime Minister Nawaz Sharif has announced that the government will keep petroleum prices unchanged for the month of May.

The PM announced this while addressing a public gathering in Mansehra here on Thursday.

Earlier on Wednesday, the Oil and Gas Regulatory Authority (OGRA) had proposed increase in the prices of petroleum products.

The petrol price was expected to increase by Rs4 per litre, high speed diesel (HSD) by Rs3.50 per litre and light diesel oil (LDO) by Rs2.56 per litre. However, after the PM’s announcement the prices will remain the same.

Although the prime minister has rejected the Ogra summary, the government would have to bear a loss of Rs8 billion for not increasing the PoL prices.