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Government dispels rumors of one more petrol price hike – Business

government on On Tuesday, rumors dissipated that he was considering another raise. in gasoline prices.

“Rumors of an increase in prices of oil products absolutely false. government didn’t take one decision regarding further increase in petrol and diesel prices,” Information Minister Marryum Aurangzeb said.

She called media and public Ignore empty rumors. “No shortage of petroleum products in country. Don’t spread rumors,” she said.

Minister of Finance Miftah Ismail also called in dispel rumors. He said there would be no promotion. in prices today, adding that there was no plan or summary for this goal.

“In to-budget seminar, I didn’t even talk about oil prices. The channels running these tickers are doing a disservice to their viewers,” he said, referring to a speech he gave earlier today at a gathering hosted by government get information from interested parties for forthcoming budget.

26 of May, government decided to raise prices of oil products at 30 rubles per liter. In a few days government raised prices by another 30 rubles per liter. in a move aims to revive the stalled program of the International Monetary Fund (IMF).

Journalists labeled move “unacceptable and cruel”, while economists called it “an inevitable adjustment”.

rise in fuel prices and power tariffs via removal of subsidies introduced by PTI government is one of in main prerequisites for the current coalition government need to meet for renewal of a $6 billion IMF program that has been suspended since April.

A day earlier, Ismail had declared that Pakistan had come out of in financial crisis after two subsequent campaigns in oil prices, which meant that there was no need declare an economic emergency.

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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