Pakistan rolls back fuel price hike

The rollback of a 9 percent price rise, effective Jan. 1, was one of several demands made by the Former Prime Minister Nawaz Sharif's Pakistan Muslim League (PML-N) of Gilani's Pakistan People's Party.

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ISLAMABAD // Pakistan's government will reverse an unpopular fuel price rise, the prime minister said on Thursday, in what appeared to be a concession to the opposition in the latest political crisis in the US ally.

"All the political leadership has agreed that fuel prices should be reversed," Prime Minister Yusuf Raza Gilani told the National Assembly. "I announce a restoration of the prices" to the levels they were on Dec 31.

The rollback of a 9 percent price rise, effective Jan. 1, was one of several demands made by the Former Prime Minister Nawaz Sharif's Pakistan Muslim League (PML-N) of Gilani's Pakistan People's Party.