PM Khan refuses to increase petrol price by Rs11.53 from November 1

ISLAMABAD: Prime Minister Imran Khan on Saturday refused to endorse a proposal by the Oil and Gas Regulatory Authority (OGRA) to further increase petroleum prices in Pakistan by Rs11.53 in view of the economic well-being of the masses, reported the APP news agency.
The country fixes the rates of petroleum products on a fortnightly basis to pass on the impact of the fluctuating international prices to consumers.
Last month, the government was criticized for taking these prices to a historically high level by increasing the per liter rate of petrol by Rs4 to Rs127.30, high speed diesel by Rs2 to Rs122.04, kerosene oil by Rs7.05 to Rs99.31 and light diesel oil by Rs8.82 to Rs99.51.
However, the country’s finance chief Shaukat Tareen defended the government’s decision by saying that Pakistan was still offering the “cheapest” rates of petroleum products in the region.
The government also made upward revision to these prices on October 16 by raising the per liter price of petrol by Rs10.49 to Rs137.79, high speed diesel by Rs12.44 to Rs134.48, kerosene oil by Rs10.95 to Rs110.26 and light diesel oil by Rs8.84 to Rs108.35.
“The prime minister took the decision keeping in view the public interest and provide them relief,” the APP reported, adding: “He said instead of shifting the burden of the international price increase to the consumer, the government’s priority was to provide the maximum relief [to people].”
The report said “the government would bear the burden of the proposed rise in the price” of petroleum products globally.
OGRA and the finance ministry had recommended to increase per liter petrol price by Rs11.53, high-speed diesel by Rs8.49, kerosene oil by Rs6.29 and light diesel oil by Rs5.72 from the next month.