Taking a jibe at contradictory statements given by Prime Minister Shehbaz Sharif's Pakistan Muslim League Nawaz (PML-N) government on fuel subsidy, the former Finance Minister Shaukat Tarin said that the government has no policy and is utterly confused in every decision it takes.
His comments came after the PML-led federal government mulls over withdrawing subsidies and hiking the fuel prices. While speaking to the Pakistani media portal ARY News, Tarin said that the former Prime Minister Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government had never promised the International Monetary Fund (IMF) to end the subsidy.
Tarin added that instead of promising to cut off the subsidy PTI gave a comprehensive plan to the financial institution so that required funds could be arranged, reported ARY News.
The former Minister also slammed the PML-N government for being unable to efficiently deal with the issue. He said that the current government is panicked and has failed to tackle the issues with which the Pakistani economy is laced.
"Our government had provided a subsidy for giving relief to the nation. Prior to approving subsidy, the PTI government had arranged the required funds," he said.
"This [PML-N] government is bearing pressure of IMF for not receiving another tranche of loan money before ending subsidies. The country's market is facing a situation of uncertainty. They are not sitting on the opposition benches now and they should now show to handle these issues," Tarin added.
The former Minister said that the PTI government informed IMF about the sources of funding.
"PML-N government's decision will increase the pressure on the rupee in the coming days besides hiking the interest rate. I had told them from where to get the required funds," he continued, as per the media outlet.
Meanwhile, Federal Defence Minister Khawaja Asif, who was in London along with PM Shehbaz held discussions with the party supremo Nawaz Sharif which was centred around devising strategies to help the country overcome this severe economic condition.
Currently, the government is providing a Rs 29.60 per litre subsidy on petrol. As per the sources privy to the matter, following the hike, the fuel subsidy will cost the national kitty Rs45.14 from May 16 if the prices of petrol are not increased.
Moreover, if the government chose to not provide subsidies and withdraws then the petrol price will hit a staggering Rs 190 litre.
In a similar fashion, the government is giving Rs73.04 per litre subsidy on diesel and Rs43.16 on kerosene. The rates of diesel and kerosene will jump to Rs 230 and Rs 176 per litre if the subsidy is abolished. (ANI)