ISLAMABAD (Dunya News) – Finance Minister Ishaq Dar on Wednesday announced a price hike in petroleum products which will be enforced from 12 am midnight. Earlier, OGRA had recommended Rs 1.91/litre hike in petrol price.
He defended the price increase by saying that Oil and Gas Regulatory Authority (OGRA) had recommended a summary of greater rise in petrol and diesel prices. “Prime Minister Nawaz Sharif suggested a lower price hike in petrol”, he said.
Petrol and diesel prices have been raised by Rs 1 per litre. The government will bear a burden of PKR 3 billion for not raising petrol prices as recommended by OGRA.
Moreover, the new prices will remained enforced from February 16 to February 28.