PM Rejects OGRA’s Proposal For Another Petrol Price Hike

Prime Minister Imran Khan has rejected a summary of the Oil and Gas Regulatory Authority (OGRA) which proposed an increase of Rs. 11.53 in per unit liter prices of petroleum products.

The Prime Minister rejected the proposals to offer relief to the general public in November.

It should be noted that OGRA had proposed to increase the price of petrol in Pakistan by Rs. 11.53, high-speed diesel by Rs. 8.49, kerosene by Rs. 6.29, and light diesel by Rs. 5.72 from November 1 onwards, keeping in view the rising prices of oil in the global market.

The government is giving priority to relief instead of shifting the burden of rising inflation to the people. The government is bearing the brunt of the recent increase proposed by OGRA and is trying its best to offer relief to the people in uncertain times.

Amid the global energy crunch, oil and gas prices have surged to record highs in the past few months. In a bid to cope, the Pakistan government hiked petrol prices by Rs. 10.49 to a high of Rs. 137.7 per liter, while the price of high-speed diesel was increased by Rs. 12.49 to Rs. 134.48 per liter.

The Oil and Gas Regulatory Authority expects prices to continue to rise till March 2022.