KARACHI/ISLAMABAD: Finance Minister Miftah Ismail said that the government would not reverse the petrol and electricity subsidy programme of the PTI government.
Talking to reporters today at Karachi airport, he said he would convince the International Monetary Fund (IMF) that fuel and energy subsidies could not be reversed as the “nation cannot endure it”.
Finance Minister, who left for Doha today to participate in talks with the IMF for the resumption of a $6 billion loan programme that has been stalled since early April, said that Prime Minister Shehbaz Sharif and PML-N supremo Nawaz Sharif had ruled out the possibility of ending the subsidies.
He said that according to the deal finalised by former finance minister Shaukat Tarin, Pakistan would have to raise the price of diesel by over Rs150 and petrol by Rs100. “It will not happen. I have refused. Shehbaz Sharif sahb has refused. Nawaz Sharif sahb has refused,” Ismail added.
He said that he would not accept some of the tough conditions of the IMF for the resumption of loan. The government and the IMF teams are expected to sign loan resumption agreement on May 25 in Doha, Qatar. After this development, the IMF officials would recommend to their board for disbursement of next tranche to Pakistan.
