Miftah says PM Shehbaz is not raising petrol prices

Finance Minister Miftah Ismail said on Sunday that the government was not raising petrol prices “for the time being”.

Speaking at a press conference, the finance minister said that Prime Minister Shehbaz Sharif has declined the proposal to raise petroleum prices today, saying that the government did not want to put further burden on the people.

Later, on Twitter, he wrote that, although oil prices will not be increased immediately, the government may have to “reconsider the decision soon” due to changing circumstances and oil prices in the international market.

Berating the PTI-led government, Miftah said during the press conference that the former finance minister Shaukat Tarin had promised the International Monetary Fund (IMF) that the then government would phase out all the subsidies on petroleum products.

Talking about the devaluation of the rupee, the finance minister said that the dollar was at Rs115 during the PML-N’s last tenure, but it jumped to Rs189 during the the PTI government’s tenure.

“The government led by the PTI has brought the country to the verge of economic catastrophe,” he said. “We’re trying to get it back now.”

Ismail added that the current coalition government is working to improve the country’s agricultural sector as well.

Referring to the government’s talks with the IMF, Ismail added: “I will negotiate with the IMF and resolve all issues in a better way.”