Prime Minister Nawaz Sharif has rejected the Oil and Gas Regulatory Authority’s (OGRA) recommendation for upward revision of petroleum prices for the month of July, 2014.
A spokesman of the Prime Minister House said in a statement issued here on Monday that the government has decided to give half a billion rupees subsidy to ensure there is no change in the petroleum prices and that relief is provided to masses.
The government had kept petroleum prices unchanged last month as well. Apart from the Rs6 to Rs14 per litre petroleum levy, the government also charges 16 per cent general sales tax on the prices of all petroleum products.
