Premier directs to withdraw hike in POL price

ISLAMABAD: Prime Minster Raja Pervaiz Ashraf has ordered the Finance ministry to withdraw recent hike in petroleum prices, following a protest in National Assembly on the previous day.

Ina statement from the Prime minster house, the democratic government do not want to overburden a common man therefore the PM Ashraf has directed to bring back the prices of February 28th, that was Rs.103.07 per litre.

The price of petrol came into effect from March 1 was raised by Rs3.53 per litre (3.42 per cent) to Rs106.60, that of high speed diesel by Rs4.35 (3.99 per cent) to Rs113.56, kerosene by Rs3.75 (3.76 per cent) to Rs103.69 and light diesel by Rs3.93 (4.2 per cent) to Rs98.25.

The prices of high octane blending component (HOBC) was up by Rs3.40 to Rs5.40 per litre in various cities.

The price has not been implemented as yet. Meanwhile, chairman OGRA has said that they have not received any written notification so the price would come into effect by 12am today.

On Friday, Pakistan Muslim League – Nawaz (PML-N) and the Muttahida Qaumi Movement (MQM) staged a walk out of the session of National Assembly.

Also Industrialists and traders rejected the new increase in prices saying that there was no valid justification to increase the petroleum prices on the basis of international price and the decision would be detrimental to the local industry, especially to exporters.