'Caretaker govt not to be formed before August 2023'

ISLAMABAD: Finance Minister Miftah Ismail said on Thursday that the caretaker government will not be formed before August 2023, ARY News reported.

Miftah Ismail, while addressing a press conference today, said that the coalition government is ready to bear any kind of political loss but the caretaker government will not be formed before August 2023.

He said that the federal government took the right decision by hiking the prices of petroleum products. The finance minister announced to hike the petrol, diesel, light diesel and kerosene oil prices up to Rs30 per litre.

READ: ‘PETROLEUM PRICES SHOULD HAVE BEEN INCREASED IN PHASES,’ SHAUKAT TARIN

Miftah Ismail said that the government is currently giving a subsidy of Rs56 per litre and so far bore Rs55 billion financial loss within 15 days.

He said that Prime Minister Shehbaz Sharif took a tough decision in view of the current economic situation. He added that the government is prioritising the national interests besides blaming the previous government’s policies which rose the inflation rate.

Ismail claimed that the previous government led by Pakistan Tehreek-e-Insaf (PTI) had fixed the petrol and diesel prices. “It is a difficult decision for us to put the financial burden on the nation but it is inevitable. Elite and weak segments are already getting the benefits of petrol subsidy.”

He clarified that Pakistan could not receive the IMF loan without increasing the prices of petroleum products. The finance minister said that the government will wait for a drop in prices of the petroleum products in the global market, however, it was necessary to pursue loan from the IMF at this time.