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Summary The federal government has decided not to consult with political parties over hike in petroleum prices.
The government has kept the POL prices unchanged from the last three months. According to Ministry of Finance, the government has paid Rs 15 million subsidy on POL prices during last three months and additional Rs 10 billion has to pay if the prices will be kept remain. The ministry said that if the government pays Rs 10 million more subsidy on POL prices, the budget will be affected. In all these circumstances, the government has decided to increase the POL prices for month of March.It is pertinent to mention here that in January, the Prime Minister Yousuf Raza Gilani has withdrawn the fuel price hike after a key partner MQM decided to quit the ruling coalition.
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