- Shaukat Tarin reveals “Kamyab Pakistan Programme” will be inaugurated by the end of this month.
- The minister of finance emphasizes that petrol is out there at Rs123 per litre in Pakistan, while it’s available at Rs250 per litre in India.
- He quotes rising oil prices and the import of vehicles are major reasons behind currency devaluation.
ISLAMABAD: The rise in inflation is due to the International Monetary Fund’s (IMF) programme, said Federal Minister for Finance Shaukat Tarin on Wednesday, assuring the media that the government will provide direct subsidies on food items to the poor people.
Addressing a news conference, Tarin said: “Around 50% difference was recorded in the price of ghee globally, while we [Pakistan] kept the difference around 30%. The price of wheat recorded an increase of 13.5%.”
The minister of finance emphasized that petrol is out there at Rs123 per litre in Pakistan, and on the contrary, it’s available at Rs250 per litre in India.
“We [government] will give subsidy on ghee, bearing the burden of additional prices on imported ghee,” he said, adding that the government will give direct subsidy on food items to the poor people.
The minister of finance further disclosed that the cash subsidy is going to be given to 40 million people.
Shedding light on the subject of cartelisation, Tarin stated that the middle man is earning 300-400% money. “Competitive Commission of Pakistan (CCP) will take action against cartelisation of food items; moreover, the system of food control inspectors will be restored,” he added.
Addressing the currency devaluation issue, the minister cited rising oil prices and therefore the import of vehicles as major reasons behind the depreciation within the value of the rupee.
“The US dollar is being traded to Afghanistan and when the exporters have a negative currency outlook they prefer to keep their money outside the country,” he maintained.
Tarin reiterated that Prime Minister Imran Khan has directed the ministry to form medium and long-term plans to control crisis.
“Kamyab Pakistan Programme will be launched by the end of this month under which 42% people belonging from low-income group will be provided food subsidies,” he revealed.
Tarin concluded the news conference by saying that he will continue to work as the minister of finance.
