POL Prices To Go Down Today

Finance Minister Miftah Ismail says that International Monetary Fund has no objection over lowering prices of the petroleum products.

ISLAMABAD: (UrduPoint/UrduPoint / Pakistan Point News-July 14th, 2022) Finance Minister Muftah Ismail said that petrol prices would go down today.

The Minister also said that International Monetary Fund (IMF) would not make any objection to it.

The IMF earlier today had revealed that the Pakistani authorities and the IMF finally reached a staff-level agreement over the release of $1.17 billion to support the country’s fragile economy.

Talking to the reporters in Islamabad, Miftah said that the prices of petroleum products would be lowered today instead of waiting till July 15 as Prime Minister Shehbaz Sharif wanted to give immediate relief to the people.

He stated that the finance ministry received a summary from the Oil and Gas Regulatory Authority (Ogra) recommending a cut in prices.

He also congratulated the nation over agreement with IMF, saying that the nation stood by PM Shehbaz Sharif in difficult decisions.

"Nations see difficult times and the Pakistani nation understands the situation during crises but now the time to give relief to the nation after difficult times has come," Miftah added.