Federal Minister of Finance Miftah Ismail said yesterday that Prime Minister (PM) Shahbaz Sharif will announce relief for those who cannot afford fuel at new prices.
To procure loans from the International Monetary Fund (IMF) the government has removed subsidies from petroleum products, which has resulted in a hike of Rs. 30/liter in the prices of petrol, high-speed diesel (HSD), kerosene oil, and light diesel fuel. The prices of fuel are now as follows:
Ismail, once again, blamed the previous government’s policies and former Prime Minister Imran Khan’s decisions for the ongoing economic troubles.
“Imran Khan had promised IMF that Rs. 30 levy and 17% sales tax would be charged on petroleum products,” he said, adding that the former PM’s unilateral decisions have cost Pakistan losses worth Rs. 120 billion a month.
Ismail also highlighted that fuel prices are still less in Pakistan than those in India, UK, Bangladesh, and UAE. However, the ongoing economic instability might change the situation quickly.