March 31, 2021: Finance Minister Hammad Azhar has announced to decrease the petrol price by 1.50 rupee and that of diesel by three rupees.
Addressing a news conference in Islamabad today (Wednesday), he said this is being done after consultations with Prime Minister Imran Khan and keeping in view the trend of oil prices in the international market.
The Finance Minister said the Economic Coordination Committee (ECC) at its meeting today fixed the wheat support price at 1800 rupees per forty kilograms. He said this decision will provide relief to the farmers.
Hammad Azhar said it has also been decided to import five hundred thousand tonnes of sugar from India. He said the prices of the commodity are lower in India as compared to Pakistan. He said the import of sugar will improve the supply situation which will directly benefit the common man.
Keeping in view the demand for Cotton, the Finance Minister said the ECC on the proposal of the Ministry of Commerce has accorded approval for the import of cotton from India by the end of June.
Hammad Azhar said Pakistan has successfully raised 2.5 billion dollars through Eurobond. He said we received bids for five billion dollars.
The Finance Minister said it is the present government that brought the current account deficit and the primary account to surplus.
The Finance Minister said the government is fully cognizant of the problems faced by the people due to price hikes. He said we will work day and night to overcome this issue with the close coordination of the provincial governments.
Hammad Azhar recognized the contributions of his predecessors Hafeez Sheikh and Asad Umar for bringing stability to the economy. He said he will continue to take guidance from both the former Finance Ministers to take the matters towards further improvement.