LAHORE: A petition challenging the recent increase in petroleum product prices was submitted to the Lahore High Court (LHC) on Wednesday.
Advocate Azhar Siddique lodged the petition in the Lahore High Court, highlighting concerns over the escalation of petroleum prices by the federal government.
Siddique argued that the government’s decision to raise petroleum prices would exacerbate inflationary pressures, adversely affecting the economy.
Siddique said in his petition that the recent hike in prices of petroleum products cannot be justified as the prices are stable in the international markets.
The petitioner pleaded with the court to declare the recent increase in fuel prices void.
The Oil & Gas Regulatory Authority (OGRA), federal government and other concerned authorities have been made party in the case.
In an overnight move, the federal government approved a hike in the price of petrol by Rs 4.53 per liter, and the price of diesel by Rs 8.14 per liter for the next fortnight.
According to the notification issued by the ministry of Finance, the petrol will be available at Rs293.94 per liter after the increase of Rs 4.53, while the High-Speed Diesel will be sold at Rs 290.38 per liter after an increase of Rs 8.14.
