Islamabad: Federal Minister for Finance Miftah Ismail is hopeful that, following the recent partial removal of subsidies on fuel prices, the deal with the International Monetary Fund (IMF) will be completed in June, which would help the government borrow money from other multinational institutions including World Bank and Asian Development Bank.
Miftah Ismail, speaking at a news conference in Islamabad alongside Minister of State for Finance Aisha Ghaus Pasha on Saturday, stated that the recent severe decisions on petroleum pricing were the best way to improve the country’s current economic position.
“Increase in petroleum prices will help reduce the inflation and stabilizing Rupee against Dollar,” the finance minister said.
Alluding to the relief package announced in an address to the nation on Friday by Prime Minister Shehbaz Sharif, Miftah Ismail said that the PM has decided to launch “the Sasta Diesel Sasta Petrol Program” to compensate the weaker segments of the society, under which “14 million deserving households will be provided two thousand rupees on monthly basis.”
The monthly cost of this initiative will be 28 billion rupees. He also stated that the relief amount would be included in the future budget.
He said seven million households of BISP are also included in the programme.
According to Miftah Ismail, a woman head of a family with a household income of fewer than 40,000 rupees can apply for this programme by sending their National Identity Card number to number 786.
Another scheme, he claimed, will give flour at 40 rupees per kilogramme and sugar at 70 rupees per kilogramme.