We will try not to increase the price of petrol, Muftah Ismail

Finance Minister Muftah Ismail has said that we are paying Rs. 145 for petrol and we will try our best not to increase the price of petrol. ...

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Finance Minister Muftah Ismail has said that we are paying Rs. 145 for petrol and we will try our best not to increase the price of petrol.

 

Muftah Ismail says government has never sold petrol at a loss in Pakistan's history - Photo: MAKNEWS-21

Speaking at a press conference in Karachi, Federal Minister Muftah Ismail said that according to Imran Khan agreement with IMF, the price of petrol in Pakistan should have been Rs. 245, but we are paying Rs. Do not increase

He said that even if the price of petrol was changed, petroleum levy and sales tax of Rs. 30 would not be levied.

The Finance Minister said that in the history of Pakistan, the government has never sold petrol at a loss, but now they are incurring a loss of Rs 30 per liter of petrol.

 

Read more: Imran Khan agrees with IMF to increase diesel price up to Rs 295: Muftah Ismail

He said that according to an estimate, 70% of the people use petrol vehicles and 30% use motorcycles.

He said that similarly, Imran Khan has promised to levy 30% levy and 17% sales tax on diesel, but fixed the price at Rs. 144 in Pakistan.

Muftah Ismail said that at that time the price of oil in the world market was 90 90 while today it is 110 110, thus the government is losing Rs 70 per liter on diesel.

Continuing his speech, he said that diesel has never been harmed in the history of Pakistan. As per Imran Khan's promise from IMF, the price of diesel should be Rs 295.

He said that money for petrol and diesel does not go into our pockets, the government has to borrow from the market due to lack of money, this month the government will have to pay Rs 102 billion for fuel while The cost of running a full civilian government for a month is Rs 45 billion, including courts, police, courts, hospitals, ministries and all departments.

Read more: All agreements made with IMF will be fulfilled, Muftah Ismail

The Federal Minister said that due to the autonomy of the SBP, we cannot borrow from the SBP, there are difficulties in borrowing from the market while it also raises interest rates. Loans are not available, banks do not have the money to open a third LC.

He said that his government did not come up with the idea of ​​targeted subsidy. I have land cruisers which carry 80 liters of petrol whereas poor people give me subsidy of Rs. 2,400. Why give subsidy to rich people?

He said that Imran Khan speaks in Washington DC and speaks in Islamabad. There is a contradiction in his words and deeds of Rs 100 per liter.

The Finance Minister said that PSO has to collect more than Rs.500 billion, if they do not get that money, they will not be able to work, Sui Northern gas pipeline has lost more than Rs.200 billion in last three years. ۔

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He said that LNG was sold at cheap prices, gas of Rs. 3,000 is not sold for Rs.

He said that Imran Khan government has left problems everywhere due to its incompetence and corruption.

He said that 240 million cubic feet of gas is blown away, the site industrial area and the entire CNG sector will run on so much gas and this gas has been blown away, who will account for it?

Muftah Ismail said that you may not have heard of circular debt in gas sector in 2018, today there is circular debt of Rs 1500 billion in gas sector, they can bring Rs 1,500 billion to Imran Khan or his minister. Where to get Rs 1,500 billion?

He said that in the power sector, there was an increase of 12 thousand megawatts during Nawaz Sharif tenure, not even a single megawatt was added during his tenure and the circular debt has exceeded Rs. 2,600 billion. Who will pay Rs. 2,600 billion? ?

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He further said that what Shahbaz Sharif has done is that in a few days after 2019, sugar is being sold at Rs. 70-75 per kg.

He said that Imran Khan had called the IMF MD himself and asked for amnesty for real estate. Will not

The Finance Minister said that Imran Khan also gave amnesty to the industry that no factory would be set up till December. Isn't this a mine?

He said that Imran Khan has made 6 million people unemployed and 20 million people below the poverty line.

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Muftah Ismail said that China has done us a real favor, we have not been able to provide proper security to China, we could not have built a single plant with US and European investment but we have spent billions of dollars with China. Worked on projects.

He said that our survival is with China and we will take C-Pack forward. In the second phase of C-Pack, 9 industrial zones will be created.