Prime Minister Imran Khan on Friday turned down a summary from Oil and Gas Regulatory Authority (Ogra) to hike petrol price by Rs55.78 per litre in order to facilitate the masses.
The Ogra has sent a summary to hike fuel prices upto Rs68.87 per litre with petrol price recommended to be increased by Rs55.78, high speed diesel by Rs68.87 per litre, Kerosene oil by Rs37.82 litre and light diesel by Rs40.24 per litre.
Prime Minister Imran Khan in order to provide relief to the masses has rejected the fuel hike and the government would bear the increase through a subsidy of Rs33 billion. The overall loss in terms of subsidy and revenue will be at Rs63 billion.
It is pertinent to mention here that the federal government has retained the prices of petroleum products for the next 15 days of April following the February 28 decision of Prime Minister Imran Khan.
