Govt to keep petroleum prices unchanged in 'public interest'
The government decided on Saturday to keep the prices of petroleum products unchanged in "public interest", according to a statement issued by the Finance Division. The decision was taken after Prime Minister Imran Khan "turned down a proposal by the Oil and Gas Regulatory Authority (Ogra) and the finance ministry for increasing the petrol price by Rs11.53 per litre," state-run APP reported. "If there [is] any price differential, then [the] government [would] bear the burden and compensate both OMCs (oil marketing companies) and refineries," the Finance Division's statement said, adding that the government was "fully committed to provid[ing] maximum relief to the masses". The decision comes amid speculation that the government may increase petroleum prices by up to Rs8 per litre for the next 15 days if it decides not to increase existing tax rates. The speculation found ground in Ogra's recommendation to increase petroleum prices. T...