Prime Minister Shehbaz Sharif said on Thursday that he understands the negative consequences of a fuel price rise, but that the government has no alternative due to an IMF agreement.
The prime minister claimed in a series of tweets that the administration had no choice but to hike prices as a result of the IMF agreement that the previous PTI government signed.
“Will soon give the population confidence on the terms of the IMF-PTI accord,” Prime Minister Shehbaz Sharif stated, vowing that the country will emerge from its economic troubles.
I wonder whether those who struck the worst ever deal with IMF & took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing? Details soon https://t.co/6Cjeimgfd1
— Shehbaz Sharif (@CMShehbaz) June 16, 2022
“I wonder if those who made the worst ever deal with the IMF and made blatantly awful economic decisions have the courage to confront the reality,” he remarked, adding, “How can they claim to be innocent when what the country is going through is clearly their fault?” “We’ll have more information shortly.”
Earlier on Wednesday, it was reported that Prime Minister Shehbaz Sharif had rejected the summary of the Oil and Gas Regulatory Authority (Ogra), which sought a rise in petroleum product prices beginning June 16.
Finance Minister Miftah Ismail, however, stated minutes before midnight that the price of fuel will be increased by Rs24 per litre.
He said that the government could no longer afford additional subsidies. He stated that the new pricing will take effect on June 15 at 12 a.m.