ISLAMABAD: Finance Minister Miftah Ismail defended on Tuesday the federal government’s decision to hike the price of petrol after backlash from his party’s supremo Nawaz Sharif and a strong coalition partner — PPP.
The government jacked up Monday night the price of petrol by Rs6.72 per litre for the next fortnight, taking it to 233.91 per litre, while the rate of diesel was also moved up to 244.44 per litre.
In his press conference today, the finance minister clarified that he had not stated that he would not be increasing the price of petroleum products.
“I had never said that I will not increase the price of petrol, I had stated that I will not be imposing taxes [on petroleum products] further,” Miftah said.
“I stand behind every decision of the government with full responsibility,” the finance minister said, noting that no economic decision was taken without his input.
Zardari and Nawaz’s reservations
Miftah also said that he respects the PPP leadership and would address their reservations over the decision related to the prices of petroleum products.
In his statement, PPP Co-chairman Asif Ali Zardari criticised the government for increasing the prices despite a massive appreciation in rupee value and a decline in international oil prices.
Expressing concern over the development, the former president said the PPP is a part of the government and supports it, but there must be consultations on such decisions.