AIRLINK 58.74 Increased By ▲ 0.75 (1.29%)
BOP 6.20 Decreased By ▼ -0.02 (-0.32%)
CNERGY 3.95 Decreased By ▼ -0.10 (-2.47%)
DFML 16.08 Increased By ▲ 0.38 (2.42%)
DGKC 67.48 Decreased By ▼ -1.07 (-1.56%)
FCCL 17.59 Decreased By ▼ -0.16 (-0.9%)
FFBL 25.91 Increased By ▲ 0.16 (0.62%)
FFL 9.17 Decreased By ▼ -0.14 (-1.5%)
GGL 9.82 Increased By ▲ 0.08 (0.82%)
HBL 112.95 Increased By ▲ 1.15 (1.03%)
HUBC 114.99 Increased By ▲ 0.19 (0.17%)
HUMNL 6.58 Increased By ▲ 0.14 (2.17%)
KEL 4.20 Decreased By ▼ -0.10 (-2.33%)
KOSM 3.59 Increased By ▲ 0.01 (0.28%)
MLCF 37.35 Decreased By ▼ -0.05 (-0.13%)
OGDC 116.69 Decreased By ▼ -0.51 (-0.44%)
PAEL 22.74 Decreased By ▼ -0.16 (-0.7%)
PIAA 10.76 Decreased By ▼ -0.59 (-5.2%)
PIBTL 6.22 Increased By ▲ 0.55 (9.7%)
PPL 104.26 Decreased By ▼ -0.99 (-0.94%)
PRL 26.47 Decreased By ▼ -0.08 (-0.3%)
PTC 9.55 Decreased By ▼ -0.05 (-0.52%)
SEARL 52.00 Decreased By ▼ -1.34 (-2.51%)
SNGP 65.15 Increased By ▲ 0.16 (0.25%)
SSGC 10.93 Decreased By ▼ -0.01 (-0.09%)
TELE 7.26 Increased By ▲ 0.10 (1.4%)
TPLP 11.97 Increased By ▲ 0.10 (0.84%)
TRG 77.22 Increased By ▲ 4.51 (6.2%)
UNITY 20.44 Decreased By ▼ -0.29 (-1.4%)
WTL 1.29 Decreased By ▼ -0.02 (-1.53%)
BR100 6,332 Increased By 45.7 (0.73%)
BR30 21,614 Increased By 27.8 (0.13%)
KSE100 61,914 Increased By 355.2 (0.58%)
KSE30 20,851 Increased By 132.3 (0.64%)

Prime Minister Shehbaz Sharif on Thursday blamed the latest hike in fuel prices on the predecessor government’s “worst-ever deal” with the International Monetary Fund (IMF).

Taking to Twitter, the PM said that he would soon share specifics of the deal made between the IMF and Pakistan Tehreek-e-Insaf (PTI) with the public in the coming days.

“Acutely aware of the impact that a fuel price hike causes,” said PM Shehbaz in a tweet. The prime minister's statement comes a day after the government announced yet another massive hike in petroleum product prices, raising concerns of a further spike in the already-high inflation.

The prime minister said that the government was “left with no choice” but to raise the prices due to the IMF deal that was signed by the previous government of PTI.

“We will get out of these economic difficulties,” he added.

In a late-night development, Finance Minister Miftah Ismail on Wednesday announced that the government had decided to increase petroleum prices as it looks to quickly appease the IMF, which has emphasised the termination of energy subsidies to revive its bailout programme.

Fuel prices raised yet again: Miftah says hike was ‘inevitable’

“We are taking difficult decisions,” Miftah maintained.

Earlier, Miftah had said the IMF was concerned about fuel subsidies, a widening current account deficit, and urged the need to raise more direct taxes.

Comments

Comments are closed.

zh Jun 17, 2022 04:30am
The imported PM, as usual, is talking nonsense. PTI and IMF reached an agreement in 201, and until IK fell, the oil prices remained stable. Since the arrival of the criminal regime, the petrol prices keep escalating. Still, the Sharif mafia keeps blaming PTI.
thumb_up Recommended (0)