ANI
16 May 2022, 01:25 GMT+10
Islamabad [Pakistan], May 16 (ANI): Taking a jibe at contradictory statements given by Prime Minister Shehbaz Sharif's Pakistan Muslim League Nawaz (PML-N) government on fuel subsidy, the former Finance Minister Shaukat Tarin said that the government has no policy and is utterly confused in every decision it takes.
His comments came after the PML-led federal government mulls over withdrawing subsidies and hiking the fuel prices. While speaking to the Pakistani media portal ARY News, Tarin said that the former Prime Minister Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government had never promised the International Monetary Fund (IMF) to end the subsidy.
Tarin added that instead of promising to cut off the subsidy PTI gave a comprehensive plan to the financial institution so that required funds could be arranged, reported ARY News.
The former Minister also slammed the PML-N government for being unable to efficiently deal with the issue. He said that the current government is panicked and has failed to tackle the issues with which the Pakistani economy is laced.
"Our government had provided a subsidy for giving relief to the nation. Prior to approving subsidy, the PTI government had arranged the required funds," he said.
"This [PML-N] government is bearing pressure of IMF for not receiving another tranche of loan money before ending subsidies. The country's market is facing a situation of uncertainty. They are not sitting on the opposition benches now and they should now show to handle these issues," Tarin added.
The former Minister said that the PTI government informed IMF about the sources of funding.
"PML-N government's decision will increase the pressure on the rupee in the coming days besides hiking the interest rate. I had told them from where to get the required funds," he continued, as per the media outlet.
Meanwhile, Federal Defence Minister Khawaja Asif, who was in London along with PM Shehbaz held discussions with the party supremo Nawaz Sharif which was centred around devising strategies to help the country overcome this severe economic condition.
Currently, the government is providing a Rs 29.60 per litre subsidy on petrol. As per the sources privy to the matter, following the hike, the fuel subsidy will cost the national kitty Rs45.14 from May 16 if the prices of petrol are not increased.
Moreover, if the government chose to not provide subsidies and withdraws then the petrol price will hit a staggering Rs 190 litre.
In a similar fashion, the government is giving Rs73.04 per litre subsidy on diesel and Rs43.16 on kerosene. The rates of diesel and kerosene will jump to Rs 230 and Rs 176 per litre if the subsidy is abolished. (ANI)Get a daily dose of Irish Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Irish Sun.
More InformationBEIJING, China: A typhoon altered its course and struck Hainan Island, southern China, late on the night of June 13. Typhoon Wutip...
BANFF, Alberta: The recent G7 summit has convened for the second and final day in the picturesque Canadian Rockies amidst escalating...
JOHANNESBURG, South Africa: A key global plan to end AIDS as a public health threat by 2030 is now in deeper jeopardy after the United...
CALGARY, Alberta, Canada - U.S. President Donald Trump has announced he is leaving the G7 summit after just one day, and after refusing...
HOUSTON, Texas: Crude oil surged to multi-month highs this week, driven by escalating tensions in the Middle East after Israel launched...
SEOUL/LONDON: A wave of flight cancellations and diversions swept across the airline industry on June 13 after Israel launched strikes...
DUBLIN, Ireland: Cork's northside and Dublin's north inner city have been ranked as the dirtiest areas in Ireland, according to the...
ZURICH, Switzerland: In a breakthrough that could reshape the future of sustainable materials, scientists at Empa's Cellulose and Wood...
DUBLIN, Ireland: Paul Murphy, a member of the Irish parliament from the People Before Profit-Solidarity party, said he is one of several...
NEW YORK CITY, New York: Investor confidence in U.S. markets is showing signs of strain as global funds redirect billions toward Europe...
DUBLIN, Ireland: Ryanair chief executive Michael O'Leary received a total pay package of 3.83 million euros for the financial year,...
GRAZ, Austria: Austria is reeling after a tragic school shooting in Graz that left ten people dead, including the gunman, and 12 others...