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Pakistan

Increased petrol prices to save economy: PM Shehbaz

  • Says people are facing inflation and unemployment due to flawed policies of PTI government
Published May 29, 2022
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Prime Minister Shehbaz Sharif said on Sunday that the decision to increase petroleum prices was taken with a heavy heart as it was the only option available to save the country’s economy, Aaj News reported.

While addressing a public gathering in Mansehra, Khyber Pakhtunkhwa (KP), the prime minister criticised the previous PTI-led government for its flawed policies and said that Imran Khan is an ‘egoist’ who deceived the nation.

"Today, people are facing inflation and unemployment because of the incompetence of the PTI government. They took such hefty amount of loans that our generations might not be able to pay them," the prime minister said.

He, however, expressed resolve to utilise all the available resources to make the country developed and prosperous.

He said that Multan, Sukkur, and Hazara Motorways are mega projects, which were completed during the Nawaz Sharif regime.

PM Shehbaz says leaked audio clip exposes Imran's 'hypocrisy, double standards

He said that the journey of development and prosperity will be continuing with the same spirit and devotion.

The prime minister assured the people of Khyber Pakhtunkhwa of the provision of flour at the prescribed rates of Punjab.

Shehbaz Sharif said that efforts will be made to remodel KP on the pattern of Punjab.

Referring to the increase of petroleum prices, he said the government has increased the prices in compulsion due to the wrong decisions and agreements of the previous government.

Shehbaz Sharif said the government has announced a Rs28 billion subsidy package for the eighty million poor people of the country.

He said that laptops will be provided to the position holders students in the upcoming budget.

He announced the establishment of a medical college, a special grant of Rs1 billion development of Mansehra, and the setting up of Hazara Electric Supply Company.

Earlier the premier inaugurated various development projects in the area.

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samir sardana May 30, 2022 01:50am
The IMF mandate is simple The aim is to shock the people, to restrict fuel consumption, and to increase cost of production and pricing of product, to reduce demand for goods,and thereby,fuel. This is expected to lower fuel demand and fuel import - BY REDUCING THE DISPOSABLE INCOME (AFTER FOOD/OIL/RATE OF INTEREST HIKES) IN THE HANDS OF THE PUBLIIC And it cuts subsidy But Oil is now in a new orbit, and double digit oil,is history ! So another oil hike, will come soon - unless data shows,demand destruction ! By that time, Oil will become a Political Hot Potato - with Imran Khan,sharpening his claws OR THE IMF BET, IS THAT ,OIL PRICES WILL DELCINE SOON - WHICH IS UNLIKELY !
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