ISLAMABAD
In order to give relief to public, the Prime Minister Nawaz Sharif rejected Ogra summary to increase the prices of petroleum products for the month of August.
According to a press release from Ministry of Finance, The Finance Minister Senator Mohammad Ishaq Dar, while in Madina Munawara, met with the Prime Minister Nawaz Sharif to discuss the prices of petroleum products for the month of August, in light of the recommendations made by Ogra.
Ogra has recommended selling petrol on the new prices of Rs.110.16 per litre from the next month, against the present prices of Rs 107.97. Similarly prices for per litre HOBC were proposed Rs. 139.28, against the existing Rs.134.63, per litre.
According to Finance Ministry statistics, Government will bear loss up to Rs.1.359 billion to maintain the prices of these products. According to officials, PM also directed to reduce prices of Kerosene oil to Rs.0.31 and Light Diesel Oil to Rs.0.81 to pass on the benefit of decrease of in Kerosene Oil to the consumers with effect from 29 July, 2014.