Daily Times

The government on Wednesday announced further reduction of Rs 8 in prices of per liter petrol, bringing down the commodity rates by Rs2 0 in a single month. Announcing the new petroleum prices, Federal Minister for Finance and Revenue, Mohammad Ishaq Dar said petrol prices were reduced by Rs12 on May 15 and was now further reduced by Rs8. Petrol would be now available at Rs.262 per liter, with effective from June 1st against its sale at Rs.270 per liter during last fortnight.

The minister said the prices of various petroleum products were reduced despite the fact that there was no big change in rates of the commodities in international market nor was there any improvement in Rupee against Dollar. However, he said government made efforts to make some space for providing relief to the people.

The price of high speed diesel has been reduced by Rs.5 per liter, from Rs.258 to Rs.253, he said adding that prices of this product was reduced Rs30 on May 15, hence bringing the total reduction to Rs.35 in a month. Likewise, the price of light diesel oil has been reduced by Rs.5, which would now be sold at Rs147.68 per liter against its sale at Rs152.68. However, prices of kerosene oil have been kept unchanged at Rs.164.07. Meanwhile, Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Wednesday said that economic stability is linked with political stability as lenders, investors and financial organizations make decisions while considering the country’s said improving prospects.

Talking to a private news channel, he said that the finance ministry had completed all technical formalities for the ninth review of the International Monetary Fund’s (IMF) program. “It is unfortunate that the review has been delayed by three months, but we have completed all prior actions,” he said. “We have to control our internal expenditures. The IMF programme will conclude on June 30,” he added. The minister said that the finance ministry had reduced the current account deficit. He said some internal and external elements blatantly attempted to destabilize the country’s economy. The budget preparation was in the final stage, said Dar, adding that the government would present a business-friendly budget in order to avoid further burdening the poor. “The devaluation of the currency has heightened the inflation and the government is aware of the people’s suffering and assured that every promise made with the public would be fulfilled,” he assured.

“The government is working on the formation of a comprehensive strategy to bring the dollar price down to its actual level which is less than 250 rupees,” he apprised.

Senator Ishaq Dar said that human rights were not being violated in the prosecution of perpetrators of the May 9 mayhem, reiterating that those responsible for targeting the military installations would be prosecuted in military courts.

He also blamed Imran Khan and other PTI leaders for brainwashing youth in a bid to create chaos and unrest in the country. The minister said that according to evidence, the violent protesters of the May 9th mayhem were directed by Imran Khan and other leaders of the PTI.

Dar again reiterated that talks with Imran Khan could be held only if he apologizes to the nation, admits his mistake and promises not to do anything like May 9 in the future.