Daily Times

Pakistan Muslim League-Nawaz (PML-N) leader Syed Zaeem Hussain Qadri on Wednesday night remarked that the outgoing government will not bomb petrol hike as it bids farewell to the public office.

Earlier, Oil and Gas Regulatory Authority (OGRA) had sought an increase in petrol prices from the power division. In light of the OGRA’s summary, Qadri said that the decision will not be approved by the government.

Ruling party PML-N will be transferring power to a caretaker setup as general elections are expected to be held in July.

Qadri referring to the recommended petrol price hike said that the decision will be left for the interim government to make.

The Oil and Gas Regulatory Authority (OGRA) has recommended increasing prices of petroleum products by up to 16.9% for June 2018 following a rise in the global crude oil prices

The Ministry of Energy (Petroleum Division) received a summary from OGRA on Wednesday that recommended an upward revision in oil prices.

Prices of all petroleum products, except for kerosene, are deregulated and OGRA is tasked with just monitoring the prices. Following the global price rise, the effect will be felt in the prices of petrol, kerosene, high speed diesel (HSD) and light diesel oil (LDO).

According to OGRA’S summary, petroleum division officials said consumers of HSD may face an increase of Rs 12.50 (12.7%), which would take its price to Rs111.26 per litre from the existing Rs 98.76per litre