The petroleum prices in Pakistan are expected to decline as local currency continued to recover against US dollar, interim Information Minister Murtaza Solangi said on Saturday.
Speaking to media here on Saturday, the minister responded to the news report saying that the rupee gained Rs30 to Rs35 against the greenback due to administrative measures taken by the interim government in the last few days.
He was referring to the military-backed crackdown launched by the authorities against hoarders, currency smugglers and black marketeers after the rupee fell to a historic low of Rs308 in interbank and beyond Rs330 in the open market earlier this month.
“There are enough chances that the oil prices will be reduced in the next [fuel prices] announcement,” the minister said adding that the interim government has no role in fuel prices as they are linked with international oil rates.
“[…] people will get some benefit of reduction in the value of the
dollar,” he remarked.
“The [local] currency is now stabilising and … I am hopeful that you will receive good news regarding petrol price on [October] 1,” he said, adding that he was also hopeful about energy prices coming down.
The minister went on to say that the government was taking various measures to support economic situation of the country and these measures have shown results recently in the decreasing price of dollar.
Murtaza Solangi said that former prime minister Nawaz Sharif had flown abroad after getting permission from the court and the government, not due to jailbreak, and added that he (Nawaz) would be treated according to law and constitution on his return to Pakistan.
The minister remarked some people were confused on the issue of elections and spreading confusion was a business for some others. The caretaker government had no confusion on the issue of elections, he added
Solangi said he had no knowledge of which court the PML-N supremo would move after his return.
Replying to various questions on the subject, the minister said he didn’t want to speculate as it was Nawaz who would have to answer such queries.
As the minister faced a flurry of questions about the elections, he again made it clear that the caretaker setup would give equal opportunities to all the registered political parties for taking part in the electoral process.
Solangi reiterated that the caretaker government would fulfil its constitutional responsibilities and provide all the available resources to the Election Commission for conducting the exercise.
The minister noted that power theft burdened other consumers and recovering the amount from them through their monthly system was unjustified – a mechanism which, he said, should be changed.
Solangi said the interim setup was aiming at stabilising the national economy while ensuring that Pakistan didn’t slide towards default and political temperature was cooled down. Legislation wasn’t their prerogative but they would do everything to reduce the current problems, he added.
