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PM rejects summary regarding increase in prices of POL products, source

PM Shehbaz Sharif has rejected a summary regarding an increase in prices of POL products, it emerges on Wednesday.

According to the sources in the Finance Ministry, the petrol prices will not be increased today.

The source claims that there was no possibility of an increase in the prices of petrol and diesel by Rs23 and 53 per litre today.

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Earlier, the Oil and Gas Regulatory Authority proposed an up to Rs55 per litre increase in the prices of the POL products. According to a summary sent by the OGRA to the Finance Ministry, it has been proposed to increase the petrol and diesel prices by Rs29 and Rs55 per litre.

After the approval of Prime Minister Shehbaz Sharif, the Finance Ministry is likely to issue a notification of the prices of POL products.

On the other hand, petroleum dealers and oil marketing companies have announced a countrywide strike from July 1 if their demands to increase the margin by six percent were not fulfilled.

Saman Siddiqui

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