Miftah rules out ‘immediate’ increase in petrol prices

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‘No plans to reverse SBP bill’

Federal Minister for Finance and Revenue Miftah Ismail Monday announced that the price of petroleum products would not be increased “immediately”, denying all claims regarding the petrol price hike that led to a massive increase in demand.

Miftah, speaking to a news channel, urged people to stop filling their petrol tanks out of panic as prices will not be increased immediately.

It is worth mentioning that due to the shortage of diesel in various cities of Punjab, long queues were witnessed at petrol stations.

The finance minister also mentioned that any law that can harm relations with the International Monetary Fund would not be amended.

“The government does not plan to reverse the State Bank (Amendment) Bill, 2021; however, the government will see after the IMF programme is completed next year,” Ismail added.

Earlier, Defence Minister Khawaja Asif had said he believes the laws that the previous government amended to meet the IMF’s conditions were wrong and needed to be reserved.

 

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