Not in govt's hand to control POL prices: Finance advisor Hafeez Shaikh
The advisor said that a great deal will be done with IMF regarding bailout package.
ISLAMABD (Dunya News) – Advisor to Prime Minister on Finance Dr Abdul Hafeez Shaikh on Friday has said that controlling petroleum products’ prices is not in incumbent government’s hands.
Addressing a ceremony, the advisor said agreement with IMF will send a positive signal to other international financial institutions as well as countries regarding Pakistan s commitment to fiscal discipline.
Upcoming budget will contain steps to address gaps in current account deficit and fiscal deficit for attaining sustainable economic growth, he assured.
He said the government’s measures have resulted in reduction in imports and increase in exports and remittances.
Hafeez Sheikh said steps have also been taken to decrease expenditures, and coordinated efforts are underway to increase revenue.
Earlier, Oil and Gas Regulatory Authority (OGRA) had proposed an increase of Rs14.37 and Rs4.89 per litre in the price of petrol and high-speed diesel (HSD), respectively from the month of May.
It had also recommended an increase of Rs7.46 and Rs6.40 per litre price for kerosene oil and light diesel oil (LDO).
On April 20, technocrat Abdul Hafeez Shaikh had taken charge as advisor to the Prime Minister on Finance, Revenue and Economic Affairs.
Dr Abdul Hafeez Shaikh – an acclaimed economist – holds international repute. He has over 35 years of experience in economic policy-making, management and implementation.
