ISLAMABAD: Finance Minister Miftah Ismail said the price of petroleum products would increase further in the country after a massive hike of Rs60 in the last 10 days.
Speaking at the pre-budget business conference in Islamabad on Tuesday, Miftah said that had the government taken decisions in line with ex-prime minister Imran Khan and former finance minister Shaukat Tarin’s deal with the International Monetary Fund (IMF), the price of petrol would have been around Rs300 per litre.
“The previous government had agreed with the IMF that they would not give subsidies,” the finance minister said, lashing out at the Khan-led government for messing up the economic policies of the country.
“The IMF has asked for 100% withdrawal of subsidy on POL products. Once the subsidy is over, the government will have to impose taxes and petroleum levy,” Miftah said, adding there is still a subsidy of Rs9.32 per litre on petrol and Rs23.05 per litre on diesel.
Finance Minister also said the country was not facing a financial emergency as the price of petrol had been increased twice — taking petrol to Rs209.86.
