Budget to be pro-people, business-friendly: Miftah Ismail

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Pakistan default threat

Islamabad: Federal Minister for Finance and Revenue Miftah Ismail has hinted that the government would control inflation by presenting a pro-people and business-friendly budget.

Read: Budget – A test for government

Talking to a private news channel, the finance minister said that the government is providing flour and sugar at fixed rates, benefiting the ordinary people.

Referring to the removal of subsidies on oil prices, Miftah Ismail said that the government withdrew subsidies on oil to pull the economy out of the current crisis as it was most beneficial to “affluent people”.

Read: Govt increases petrol price by Rs30 per litre

Blaming the previous government for purchasing expensive LNG, Imran Khan and his government “delayed in buying the commodity from the international market”.

The minister hoped that the value of the rupee would gain stability, and soon, the country’s reserves will also increase significantly.

Read: Rupee gains 60 paisa against dollar

He said the government is likely to reach an agreement with International Monetary Fund.

Read: Miftah confident to get IMF deal done in June