Prime Minister Imran Khan has rejected the suggestion of the Oil and Gas Regulatory Authority (OGRA) to increase petrol price by another Rs 11.53 per litre for the month of November.
According to a notification issued by the PM’s Office in this regard, the decision has been taken in the national interest and to “provide relief to the public.”
“The government is prioritising relief for the citizens instead of passing on the impact of global inflationary pressures,” an Urdu version of 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.
Petrol Price were expected to go up from November 1
Earlier the government was planning to make oil more expensive starting November 1 because of the ongoing depreciation of the Pakistani rupee and rising oil costs.
Petrol prices were all set to rise by a at least Rs 7 from November 1, according to sources in oil marketing companies (OMCs).
Meanwhile, diesel prices were expected to rise up to Rs 9 a litre, according to industry sources.
However, prices of petrol and diesel across the country will now stay unchanged for the next 15 days.
On October 16, the PTI-led government announced a major price hike in petroleum products, raising the per litre cost of petrol by Rs 10.49 and the cost of high-speed diesel by Rs 12.44 for the rest of October.
The increase in POL products came a day after the government announced a Rs 1.39 per unit increase in power tariffs, which would take effect next month.
The price of kerosene oil has increased by Rs 10.95 per litre, while light speed diesel has climbed by Rs 8.84 per litre, according to a Ministry of Finance notification.
The new petroleum product pricing went into effect on October 16.
