Minister for Finance, Miftah Ismail, has announced that the government will formulate a new policy to review petroleum prices. He stated that the government will only subsidize petrol for motorcycle users and not for the “elite class having big cars.”
Miftah told the media that the coalition government will improve the administration system in the coming months. He claimed that, as per the directives of Prime Minister (PM) Shehbaz Sharif, the new government will try to alleviate the economic pressure as soon as possible.
Miftah said that the current government will collect more taxes compared to the previous administration without charging any new tax. The preceding government had placed the people under immense stress, which the current government seeks to address on an urgent basis, he added.
Miftah further stated that the government will not be increasing the prices of fuel immediately. Also, despite several petrol pumps witnessing long queues of trucks due to rumored diesel shortage, Oil and Gas Regulatory Authority (OGRA) has claimed that such reports are false, implying that some petrol pumps are creating an artificial shortage in the market.