The government has decided not to increase prices of petroleum products.

Addressing a press conference in Islamabad, Finance Minister Miftah Ismail said the government has no intention to increase the prices of petroleum products for now.

He said Prime Minister Shehbaz Sharif has rejected the proposal to hike petroleum prices, as the government does not want to put further burden on the masses.

However, the Finance Minister later tweeted from his official account that the decision to keep the fuel prices unchanged may be revisited due to changing circumstances and international oil prices.

He said the friendly countries including Saudi Arabia have assured economic cooperation to Pakistan and talks are underway for extension of the deposited period.

He said Saudi Arabia has promised to extend the term of deposits from December this year and also agreed to negotiate an increase in deposits.

Source: Radio Pakistan