Petition against increased petroleum prices filed in LHC

Lahore: Petition has been filed in the Lahore High Court (LHC) against the increase in the prices of petroleum products in which federal government and OGRA have been made parties.

Advocate Azhar Sadiq has filed the petition against the increase in the prices of petroleum products stating that the prices of petroleum products are decreasing worldwide.

It has been said in the petition that there is no system for determining the prices of petroleum products, the recent increase will further increase the inflation.

The petition requested that the recent increase in the prices of petroleum products should be annulled.

Earlier on Tuesday (yesterday), the government increased the prices of petrol and diesel. Finance minister Ishaq Dar said the prices of petroleum products have been increased by Rs19.95.

Federal Finance Minister Ishaq Dar said in a media briefing that crude oil prices have increased at the global level, according to which the Prime Minister Shehabz Sharif was consulted and it was decided that there will be minimal changes in the prices.

He said that with the approval of the Prime Minister, the price of petrol is being increased by 19.95 rupees and the price of high speed diesel is being increased by Rs19.90, after which their rates will be Rs272.95 and Rs273.40 rupees respectively.

Ishaq Dar stated that we are in an agreement with International Monetary Fund (IMF), so we cannot take such decisions that will put the country in trouble.