ISLAMABAD (APP): Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Tuesday rejected some reports circulating in both press and electronic media that the Oil and Gas Regulatory Authority (OGRA) had recommended a decrease in the price of Motor Spirit Oil (MSO – Petrol) for first fortnight of the current month, terming them ‘baseless and untrue.’

“Some reports have been circulating in the press and electronic media stating that OGRA made recommendation to the government for a reduction in the price of Motor Spirit/Petrol with effect from 1st May, 2023, which are baseless and untrue,” the minister clarified on his Twitter handle.

Meanwhile, OGRA spokesman Imran Ghaznavi in a brief press statement said the authority did not recommend any decrease in the prices of MS/Petrol. “The recent decrease in international price was offset against the outstanding exchange rate adjustment, and as such, there was no room for a decrease in the local prices of MS/Petrol.”

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