The government has decided not to change petroleum prices for the month of September, according to a press release issued on Monday.
Last week, informed sources had said the government would increase the prices of petroleum products by Rs 8-9 per litre after increasing the levy on petrol and diesel.
But "Prime Minister Imran Khan did not approve the recommendation of Ogra (Oil and Gas Regulatory Authority), Petroleum and Finance Division for increase in prices", a statement issued by the premier's office said.
"The prime minister said that people are already facing high food inflation and need some reprieve, especially because of heavy rains," it added.
According to the statement, Prime Minister Imran underlined that because of its decision, the government would have to "forego Rs 17 billion in taxes which would be given as subsidy to [the] people to moderate their burden".