ISLAMABAD - Prime Minister Muhammad Nawaz Sharif has rejected the Oil & Gas Regulatory Authority’s (OGRA) summary for upward revision of petroleum prices for the month of July 2014.

The government has decided to give half a billion rupees subsidy to ensure there is no change in the petroleum prices and that relief is provided to the masses. It may be noted that last time subsidy on petroleum prices was Rs 1.78 billion.