More obstacles for a common Pakistani? Miftah Ismail says he’s going to end fuel subsidies too

More obstacles for a common Pakistani? Miftah Ismail says he’s going to end fuel subsidies too

June 11, 2022 0

What happened:

Finance Minister Miftah Ismail said the government would abolish fuel subsidies soon after submitting the budget for fiscal year 2022-23.

Details:

Last month, the government raised petroleum prices by Rs60 and presented the “toughest” federal budget in history for fiscal year 2022-23, with a budget of Rs9.5 trillion, in the hopes of reviving the $6 billion International Monetary Fund loan programme, which has been stalled for months due to policy violations.

Miftah’s POV:

Ismail stated that no subsidies will be offered in the new fiscal year, which begins in July, and that instead, positive taxation on petroleum goods will be applied. “We don’t want to lead the country down the same path as Sri Lanka. As a result, serious decisions must be made if the country is to progress toward prosperity,” he stressed.

Mahnoor Tariq
Mahnoor Tariq
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