ISLAMABAD – The federal government has decided to maintain existing petroleum prices for the next fifteen days.

Talking to newsmen in Islamabad, Finance Minister Ishaq Dar said this decision was made at the direction of Prime Minister Nawaz Sharif.

Ishaq Dar said revision of petroleum prices will now be made fortnightly.

He said government’s decision not to increase prices of petroleum products despite a hike in the international market is a New Year gift to the masses.

The Minster however said prices of light diesel and kerosene oil will remain unchanged for the entire month of January.

“Federal government will bear a burden of around four billion rupees for not increasing oil prices,” Ishaq Dar said.