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Finance Minister Miftah Ismail Warns of Another Petrol Price Hike

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Federal Finance Minister Miftah Ismail has warned the masses of an impending fuel price hike.

Discussing the matter on a popular talk show, Ismail said that the government has no choice but to increase fuel prices in view of the International Monetary Fund (IMF) agreement signed by the previous government. He foresaw that the economic crisis will subside in three months.

Ismail claimed to have asked IMF to propose a better agreement as the current deal does not favor Pakistan. He also vowed to address the wheat flour shortage in KP.

‘Sasta Petrol’ Scheme

Prime Minister Shahbaz Sharif recently launched ‘sasta petrol sasta diesel’ scheme to facilitate the underprivileged segments of Pakistan.

People with less than Rs. 40,000 monthly household incomes are the main beneficiaries of this program. The government has earmarked Rs. 28 billion to facilitate almost 14 million marginalized households across the country.

Regardless, however, daily commuting will become a challenge for everyone, given that petrol prices are expected to reach Rs. 270 per liter by the end of June.

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