Hike in fuel prices not conditioned by IMF, Miftah

Hopes IMF deal will be finalized in next couple of days
Jun 21, 2022

Finance Minister Miftah Ismail disclosed before the federal cabinet that the increase in fuel prices had nothing to do with the conditions of the International Monetary Fund (IMF) but the fallout of global inflation.

The finance minister said this during the meeting of the federal cabinet which was chaired by Prime Minister Shehbaz Sharif in Islamabad on Tuesday.

While briefing the cabinet members, the federal finance minister rejected the notion by the opposition party Pakistan Tehreek-e-Insaf (PTI) that the fuel prices were hiked to secure a deal with the Fund.

Instead, he said that the increase in fuel prices was not demanded by the global lender, but it was a result of global inflation.

He said the next round of talks with the Fund will be held today (Tuesday) and tomorrow while he hoped for progress on the ‘stalled talks’.

Miftah claimed that the budget 2022-23 was the first budget in the country’s history that provided relief to the poor and taxed the rich while adding that he and the son of the prime minister were also part of the ‘elite’.

Further, the federal cabinet also approved the issuance of Sukuk bonds. In this regard, the finance minister said the bonds would help reduce the burden of local debts.

The prime minister took notice of the poor attendance of the lawmakers in the Parliament and directed them to ensure their presence during the sessions.

The federal cabinet also decided to take the matter of the asset recovery unit, related to PTI government, to conclusion.

PM Shehbaz will also address the nation on the success of negotiation with the IMF, the cabinet endorsed.

Remdesivir price slashed

After the spike in the Covid-19 positivity rate, the government has slashed the price of Remdesivir injection which is considered vital in the treatment of the pandemic disease.

Federal Health Minister Abdul Qadir Patel confirmed that the federal cabinet has approved a reduction in the price of 100 milligrams of Remdesivir injection.

He said that the injection will now cost Rs1,892 instead of Rs2,300, a cut of Rs408.

federal cabinet

miftah ismail

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