Minister of State for Petroleum Musadiq Malik on Friday said the Rs 30 increase in fuel prices was “difficult decision”, but undertaken to “save the country from bankruptcy and destruction” a day after government introduced measures to revive the stalled IMF aid program.
“We made difficult decision to save the country from destruction and bankruptcy and ensure stability,” Malik said at a press conference along with PML-N. senior Vice President Shahid Khaqan Abbasi.
The press came after the prices of gasoline and diesel hit record highs after government raised prices for a second time in per week – a total of 60 rubles., leading to sporadic protests in various cities.
Other government mouthpiece Daniyal Aziz apologized to public in private press conference for in rise in Prices.
“In a few months you will see stability. God forbid, there will be stability – there will be a little pain. alsoMalik said. – Some of pain federal government shouldered. I believe government gave about 250 billion rubles. in subsidies.”
He added It is something of “those who would be blessed” also have to endure the pain. “We try our best possible do not burden the poor, for whom we announced 2000 rupees for family to weather this crisis.”
He repeated that it was a difficult decision, but it was made save the country from the destruction he blamed on PTI mode.
Malik said: “They agreed with the IMF that they would raise the price of oil. also apply oil levy and sales tax in apart from price increases.
“Therefore, when a country assumes a sovereign obligation international organization, and before leaving, her elected PM vomits up obligations like how he did with Constitution, [it begs the question] what did they do want do? I’ll tell you what they are wanted do. They are wanted go bankrupt and destroy country.”
But he mentioned that the markets were reacting to the crackdown and acknowledged that his comments did not mean that the pain experienced by ordinary people had decreased.
“You have also saw the shares of the market and the stability of the ruble. The markets reacted positively and the rupee is rising while dollar is shrinking. It was very difficult decision but it had to be done.”
He said in a few months it would be obvious that government took people to place that PML-N always took them: “in progress”.
“Unfortunately, PML-N has to take these tough decisions’
As he spoke, Abbasi said that “unfortunately, it is always PML-N that has to accept these decisions”but not taking them would be unfair to the nation and the country. He said the subsidies were unsustainable.
He said that the subsidy had reached 125 billion rupees, which government paid after taking additional loans. “The entire federal government is run on 520 billion rupees, our defense spending is 1,700 billion rupees, the subsidy has reached 250 billion rupees.”
He condemned the PTI regime for governing the country on “lie and false promises.” He said it’s not possible sell fuel cheaper price than buying price.
If prices hadn’t been raised, he said, economy “drowned” would and “storm of inflation” that people I would like to face it would be unimaginable.
He then warned that it would take a long time and that “we will all have to experience great pain to conquer the country”. back to where PML-N was left it in 2018″.