PM Sharif Refuses to Hike Fuel Prices, Pak Govt To Pay Rs 60 Billion Dues to Oil Firms Now

ISLAMABAD: The new Pakistani Prime Minister Shehbaz Sharif has now put the country under an additional Rs.30 billion burdens after he refused to accept the proposal to increase oil and gas prices.

This comes after the Oil and Gas Regulatory in a bid to offer aid to the nation's crippled economic system proposed Sharif beef up the fuel worth nonetheless the premier refused to just accept the provide which led to a devastating impact.

Notably, the Oil and Gas Regulatory Authority (OGRA) of Pakistan had proposed PM Shehbaz Sharif increase fuel prices. In a bid to provide relief to the country's almost crippled economy, OGRA had proposed to increase the price of diesel by Rs. 51.32 per litre and petrol by Rs. 21.30 per litre, according to Express Tribune.

However, Sharif refused the proposal leading to a devasting effect on the country's economy by putting an additional Rs. 30 billion burdens on its exchequer. 

Meanhwhile, Sharif also allowed the power distribution companies to charge more from the power consumers thus further burdening the people of the country who are suffering from tax increases, and higher energy prices.

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