Govt Likely To Reverse Decision On POL Prices

ISLAMABAD: The government is likely to reverse its decision of keeping the petroleum products' prices unchanged.

It thinks subsidizing the masses with this huge multi-billion rupee package for cheap products is not a viable option, and also the International Monetary Fund (IMF), which is continuing its program with Islamabad, is unhappy with this decision, well-placed official sources told The News on Saturday.

On Friday, Prime Minister Shehbaz Sharif had taken a populous decision by rejecting the Oil and Gas Regulatory Authority (Ogra) recommendation of increasing the petroleum products prices and ordered to keep them unchanged in the next fortnight.

Meanwhile, Miftah Ismail, the likely finance minister, took to Twitter and expressed the government’s inability to bear this enormous burden and announced that the government might have to retract its recent decision.