Fuel subsidy under PTI govt was unfunded, says Ishaq Dar

News Image

MG News | May 11, 2022 at 05:12 PM GMT+05:00

0:00

May 11, 2022 (MLN): Former Finance Minister Ishaq Dar said that the PTI government led by Imran Khan claimed subsidy on fuel was funded, however, following the departure of the previous government it was learned that it was not funded.

If it was funded, International Monetary Fund (IMF) would not have raised the objection, he noted.

To note, the fund will likely revive the 7th review of the Extended Fund Facility of $6 billion when its prior conditions are met including the removal of exemptions and subsidies on various items and an increase in income taxes.

The gap is huge because subsidies touching almost Rs300 billion.

In April, the government also bore the loss of Rs70 billion on account of fuel subsidy while in the month of May it would be around Rs118 billion.

In the last three years, the people of the country have been hard hit by the rising prices as the headline inflation is in double-digit 13%, he added.

He noted that the prices are already on the higher side. The increase in fuel prices will burden the masses.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 156,180.94
423.57M
0.51%
796.43
ALLSHR 95,690.82
1,354.89M
0.59%
557.25
KSE30 47,714.39
199.12M
0.52%
247.40
KMI30 229,722.09
134.66M
0.91%
2076.87
KMIALLSHR 64,420.07
581.33M
0.83%
532.01
BKTi 41,969.52
122.61M
0.50%
207.74
OGTi 31,991.76
10.82M
1.18%
372.62
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 115,680.00 116,415.00
115,215.00
105.00
0.09%
BRENT CRUDE 67.41 67.68
67.01
-0.03
-0.04%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 93.15 93.50
93.15
0.30
0.32%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 63.33 63.55
62.89
0.03
0.05%
SUGAR #11 WORLD 16.04 16.10
15.85
0.04
0.25%

Chart of the Day


Latest News
September 16, 2025 at 04:13 PM GMT+05:00

PKR strengthens 0.85 paisa against USD


September 16, 2025 at 03:53 PM GMT+05:00

NICL's profit doubles to Rs2bn, declares 20% dividend


September 16, 2025 at 02:31 PM GMT+05:00

Pakistan BCI decreases by 2.1 points in September


September 16, 2025 at 01:07 PM GMT+05:00

Gold price in Pakistan hits record Rs391,000 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg