Fact check: Government has not announced an increase in petrol price

People went into a panic mode in Pakistan after several media outlets reported that Finance Minister Miftah Ismail had said that the government would further increase the price of petroleum products and old posts also made rounds on social media that a summary had been sent for increasing the rates.

The finance minister issued a statement — which had been misquoted — in the day, and shortly afterwards, people started lining up at petrol stations across the country.

Meanwhile, the social media post claimed that a summary had been sent to Prime Minister Shehbaz Sharif for increasing the price of petrol by Rs25, which will come into effect from 12am.

Read more: Reports of petrol price hike send masses into frenzy in Karachi

The post further read the price of petrol, after the hike, would reach Rs237.56.

As the masses queued up to get their cars filled with fuel, a representative of the petrol pump associations told Geo News that their supply had been stopped, and tankers have lined up outside oil depots for refilling — prompting fears that their reserves would deplete, and they would not have petrol to sell.

Finance minister's clarification

But later, the finance minister clarified that the government does not intend to increase the price of petroleum products, and no summary had been sent by relevant authorities for the rate hike.

"There will be no increase in prices today, and there is no summary or plan to raise prices," the finance minister said in a tweet.

"In the pre-budget seminar, I never even spoke about petroleum prices. Channels running these tickers are doing a disservice to their viewers," the finance minister added.

Read more: There is no summary or plan to raise petrol prices, clarifies Miftah Ismail

Oil and Gas Regulatory Authority's (OGRA) spokesperson, in a statement, also said the country has abundant reserves of petrol and the government has no intention to raise prices.

"Oil marketing companies have also been directed to ensure smooth supply of petrol to filling stations," the spokesperson said.