PM Shehbaz Sharif refuses to hike petroleum prices

Govt has no intention to raise prices of petroleum products today but may revisit decision due to changing circumstances, international prices, says Miftah Ismail.

Finance Minister Miftah Ismail – File Photo

PM Shehbaz Sharif refuses to hike petroleum prices

WEBDESK: Finance Minister Miftah Ismail stated on Sunday that the government has no plans to raise fuel prices for the time being.

The finance minister told a press conference that Prime Minister Shehbaz Sharif had rejected the idea to raise petroleum prices today, adding that the government could not burden the people any further.

Later, he said on Twitter that, while petroleum product prices will not be raised for the time being, the government may need to “revisit the decision shortly” due to changing conditions and global oil prices.

Miftah Ismail, the Finance Minister, said on Sunday that the government has no plans to raise the price of petroleum goods for the time being.

Speaking to the media During a press conference, Miftah criticised the PTI-led government, claiming that former finance minister Shaukat Tarin told the International Monetary Fund (IMF) that the government would eliminate all petrol subsidies.

The rupee was at Rs115 under the PML-N tenure, but it soared to Rs189 during the PTI’s four-year mandate, according to the finance minister.

“The PTI-led government brought the country to the brink of economic disaster,” he said. “We are trying to mend the situation now.”

Ismail went on to say that the country’s agriculture industry was being improved by the present coalition government.

“The government will import edible oil worth $4 billion, while we will not import any sugar during the current fiscal year.”

Referring to the government’s talks with IMF, he added: “I am going to negotiate with the IMF and will resolve all the issues in a better manner.”

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