Saturday, May 28, 2022

Govt decides against hiking fuel prices

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ISLAMABAD: The Pakistan Muslim League-Nawaz-led federal government has decided against hiking fuel prices, ARY News reported on Sunday.

The announcement was made by Federal Minister for Finance and Revenue Miftah Ismail while addressing a press conference in Islamabad.

Miftah Ismail said the government is not going to increase fuel prices and added that he is going to hold talks with the International Monetary Fund (IMF) for the revival of the loan package for Pakistan.

“We are not going to increase fuel prices,” Miftah said and advised the masses not to wait in long lines at the petrol pumps in this hot weather.

Taking on the former finance minister Shaukat Tarin, he said, the latter agreed with the IMF to end subsidy on the fuel prices phase-wise.

Read more: PM Shehbaz Sharif decides to consult allies on tough economic decisions

Prime Minister Shehbaz Sharif has decided to call a meeting of coalition parties in the federal government to decide on tough measures needed to bring economy out of crisis.

According to sources privy to the matter, the meeting of the coalition parties is likely to be held on Monday or Tuesday where participants will be taken onboard with regard to decisions made by PML-N leadership in London.

The prime minister will return to Pakistan after his London and UAE visits today where he would hold consultations on the economic situation.

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