Summary to increase oil price rejected

Observer Report

The prime minister has turned down an Oil and Gas Regulatory Authority summary seeking an increase in fuel prices by up to Rs11.53 per litre from November 1, a notification from PM House said Saturday.

“The government is prioritising relief for the citizens instead of passing on the impact of global inflationary pressures,” the statement read.

“The additional burden of higher prices, as suggested by OGRA, which would have been transferred to the citizenry, will instead be borne by the government,” it added.

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