Miftah Defends Increase In Petrol Prices After Backlash From Nawaz Sharif
Abdullah Hussain (@Abdulla99267510) Published August 16, 2022 | 04:57 PM
The Finance Minister says 27 billion rupees in taxes will be collected from the traders during the current fiscal year.
ISLAMABAD: (UrduPoint/UrduPoint / Pakistan Point News-August 16th, 2022) Finance Minister Miftah Ismail has said the economy is improving and the government's next target is to control inflation.
Addressing a news conference in Islamabad on Tuesday, he said the rupee has continuously been appreciating since the 1st of this month due to curbs imposed on imports of non-essential items.
The Finance Minister said the present government has averted default by taking difficult political decisions and a beginning has been made to put the economy on sound footing.
Criticizing the economic policies of PTI government, the Finance Minister said they left behind 10.3 billion Dollars in foreign reserves and we have to return loan of twenty-one billion dollars during the current fiscal year.
The Finance Minister said prices of petroleum products are determined by OGRA as per a laid down mechanism. He said no additional tax has been imposed on the petroleum prices. He pointed out that price of petrol in India is 303 rupees per liter while in Bangladesh it is being sold at 308 rupees.
Miftah Ismail said that a new letter of intent sent by the IMF will be signed by him today. He was confident that disbursements to Pakistan will start following the IMF's board meeting by the end of this month.
Responding to a question, the Finance Minister said that twenty-seven billion rupees in taxes will be collected from the traders during the current fiscal year.
Related Topics
Recent Stories
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
Osaka seals first win on clay since 2022 in Madrid
Earthquake jolts Karachi
Sindh minister orders operation after attack on police in Ghotki
TikTok to fight US ban law in courts
More Stories From Business
-
Meta profits soar but costs of AI cause worry
29 minutes ago -
Mired in crisis, Boeing reports another loss
9 hours ago -
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
9 hours ago -
British-Pakistani firm unveils $35 million luxury apartments for overseas Pakistanis in Islamabad
9 hours ago -
European stocks lose momentum after global rally
10 hours ago -
New pulses varieties imperative to cater domestic food requirements: Dr Khalid Hasan
11 hours ago
-
CEO KP-EZDMC meets CRBC officials
11 hours ago -
Pakistan among nine poor countries that produces 90 percent cigarettes for world
11 hours ago -
Chief Minister Gilgit Baltistan Haji Gulbar Khan calls on Minister for Privatisation
12 hours ago -
Germany nudges up growth forecast, ailing economy at 'turning point'
12 hours ago -
Revised UAF budget recommended
12 hours ago -
IDEA, TEVTA organizes Job Fair for youth
12 hours ago