POL prices to stay unchanged on New Year
01 January, 2014
ISLAMABAD: Prime Minister Nawaz Sharif on Tuesday rejected a summary moved by Oil and Gas Development Authority (OGRA) for increasing prices of the petroleum products in the country.
"Despite increasing trend in the prices of petroleum products at international level, which also impacts prices at domestic level, the prime minister has rejected increase in the petroleum prices from January 1, 2014," Finance Minister Ishaq Dar said in a statement.
Dar said the government would maintain the existing prices of petroleum products and would not increase them. "By maintaining prices of the petroleum products, the government would bear a subsidy of Rs 5.36 billion," he said.