ISLAMABAD (Kashmir English): Prime Minister Shehbaz Sharif has rejected a summary to increase diesel and petrol prices once again despite a hike in global oil prices.
Addressing the nation on Friday, the Prime Minister said that I was given a proposal to hike petrol price by Rs 95 per litre and diesel by Rs 203 per litre, which I have rejected.
“The federal government has decided to bear the additional cost of another Rs 56 billion this week to maintain the current prices,” he said, while adding that the prices of petroleum products will remain unchanged for the next week.
The premier said petrol should have cost Rs 544 per liter today, but the government has limited it at Rs 322, while the price of diesel per liter should have reached Rs 790, but it is being sold at Rs 335 per litre.
PM Shehbaz said this step is aimed at protecting consumers from sudden price hikes while managing the economic impact internally.
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