PM Shehbaz Sharif directs Petroleum Division to keep petroleum prices unchanged

• PM Shehbaz officially rejects OGRA's recommendation to increase price of petroleum products.
• "Prime minister has been pleased to approve maintaining prices at the level of April16-30, 2022," notification reads.
• Govt would continue maintaining price differential claims of Rs47.02 per litre on petrol.

ISLAMABAD: In line with what Finance Minister Miftah Ismail announced earlier today, Prime Minister Shehbaz Sharif on Sunday evening directed the Petroleum Division to maintain the petroleum prices in the country at the current rate.

“I am directed to refer to OGRA’s letter No OGRA-10-12(3)/2020, dated May 13, 2022, on the above subject and to say that the prime minister has been pleased to approve maintaining the prices of petroleum products at the level of April16-30, 2022,” said the notification issued by the Ministry of Energy.

The notification said that the government would continue maintaining the price differential claims (PDC) of Rs47.02 per litre on petrol, Rs86.71 litre on high-speed diesel, and Rs51.83 per litre on kerosene oil and Rs67.84 per litre on light diesel oil.

Earlier today, Finance Minister Miftah Ismail said that the government had no intention to increase the prices of petroleum products for now.

Addressing a press conference, the finance minister said that PM Shehbaz has rejected the proposal to hike petroleum prices today, saying that the government could not put further burden on the masses.

Later, taking to Twitter, he clarified that while the prices of petroleum products will not be increased as of now, the government may have to "revisit the decision soon" owning to changing circumstances and international oil prices.

Criticising the PTI-led government, Miftah said during the presser that the former finance minister Shaukat Tarin had promised the International Monetary Fund (IMF) that the then government would abolish all the subsidies on petrol.