Prime Minister Imran Khan on Monday rejected the proposed hike in the prices of petroleum products to save people from the extra burden, said an official statement released by the PM’s office.

According to the communiqué, the premier rejected the summary to increase the price of petrol by Rs11 per litre and the price of diesel by Rs14 per litre.

PM Imran, it added, noticed that the prices of oil had been increasing globally but that the government will make every effort to shelter the masses from the rising costs.

It further stated that the government will take the burden of the increase in the costs upon itself to keep the people at ease.

Also read: Petrol price hits record high at Rs147.83 per litre

Special Assistant to the Prime Minister Dr Shahbaz Gill also confirmed the development on his Twitter account, saying PM “had deferred the summary to save the people from the burden.”

The PM’s aide further stated that the “prices won’t be increased for the time being.”

وزیراعظم نے پٹرول 11 روپے ڈیزل 14 روپے بڑھانے کی سمری کو منظور نہیں کیا۔ وزیراعظم نے کہا کہ پوری دنیا میں بڑھتی مہنگائی کی وجہ سے تیل کی قیمتیں بڑھ رہی ہیں لیکن پاکستانی عوام کو اس مہنگائی سے بچانے کے لئے حکومت ہر ممکن کوشش کرے گی۔ اس لئے وزیراعظم نے اس سمری کو ڈیفر کردیا۔
— Dr. Shahbaz GiLL (@SHABAZGIL) January 31, 2022

Two days ago, it was reported that the consumers were likely to face another major increase in prices of petroleum products as rates may be jacked up by up to 10% effective February 1, 2022 following fluctuations in global crude oil prices.

Tight supply of crude and geopolitical tensions in Europe and the Middle East propelled oil to a seven-year high at $90 a barrel in the international market on Wednesday.

The report had added the consumers in Pakistan could face an increase of Rs10.72 per litre, or 9.49%, in the price of high-speed diesel.

This fuel is widely used in transport and agriculture sectors. Any increase in its price will be felt by all people because of potential surge in inflation.