Pak under Rs 60 bn burden as Shehbaz Sharif rejects proposal for fuel hike
Pakistan Prime Minister Shehbaz Sharif has put an additional burden of around Rs 30 billion on the exchequer by turning down the oil and gas authority’s proposal to increase the fuel prices thus further deteriorating the economic situation of the country.
An amount of Rs30 billion is already due on account of price differential claims due to keeping oil prices unchanged from April 1, 2022.
The government will be paying a price of Rs60 billion to oil companies due to maintaining existing oil prices for the month of April.
The Oil and Gas Regulatory in a bid to provide relief to the country’s crippled economy proposed Sharif to beef up the fuel price however the premier refused to accept the offer which led to a devastating effect.
