Miftah Ismail hints at further increase in petrol price

ISLAMABAD (92 News) - Federal Finance Minister Miftah Ismail has hinted at further increase in the petrol price.

Addressing the Business Conference on Tuesday, he said that the petrol price would have been Rs300 per litre under the agreement signed between the Pakistan Tehreek-e-Insaf (PTI) and the International Monetary Fund (IMF).

He said that over 200 million people gone below the poverty line. "Imran Khan got the loan of Rs 20,000 billion during the last four years. The country was at No 3 with regard to inflation when we assumed the power," he declared.

The minister said that the cost of running the government was three times high due to the subsidy given by former premier Imran Khan. "The government will further make tough decisions. We will leave the country in a good condition," he added.

He said that the government would give targeted subsidy to 800 million people. "The country has no export in the mobile and vehicles. We will fulfill all requirements of the industrialists, including energy. We will also provide facilities to farmers," he added.

Miftah Ismail said that the government would definitely purchase cheap oil from Russia if it gave. "At least six percent growth rate is needed to provide jobs. Over 600,000 people lost their jobs due to coronavirus," he added.