ISLAMABAD: Federal Minister for Finance Muhammad Aurangzeb has stated that if global petroleum prices continue to decline, they will definitely return to previous baseline levels, and the complete benefit will be passed on to the masses, ARY News reported.
Speaking on an ARY News program, the Finance Minister emphasized that both Prime Minister Shehbaz Sharif and the Petroleum Minister maintain a clear stance: as international oil prices fall, those relief measures will immediately be transferred to the public.
Addressing tax structures, Aurangzeb clarified that the petroleum levy was already in place before the recent regional conflict erupted.
He added that the Federal Board of Revenue (FBR) target can still be achieved without strictly relying on the petroleum levy.
Furthermore, he noted that the government continues to provide a substantial targeted subsidy of Rs 130 billion to protect vulnerable segments.
Based on the current economic trajectory, the Finance Minister estimated that the inflation rate will hover around 8.2 percent, expressing optimism that as regional geopolitical tensions ease, inflation will drop even further.
Reflecting on the regional strife that began in late February, Aurangzeb praised the country’s resilience.
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He pointed out that despite intense geopolitical tension, the domestic situation remained entirely under control—there was no panic buying, no long queues at petrol stations, and absolutely no supply shortages reported across the country.