PM shifts blame on PTI for high fuel prices

Prime Minister Shehbaz Sharif on Thursday promised the nation that his government would release "details soon" regarding the previous PTI regime's deal with the International Monetary Fund (IMF).

His message on Twitter comes a day after the government raised fuel prices by as much as nearly Rs60, with petrol reaching Rs233.89 — unprecedented in the country's history.

I wonder whether those who struck the worst ever deal with IMF & took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing? Details soon https://t.co/6Cjeimgfd1

— Shehbaz Sharif (@CMShehbaz) June 16, 2022

"Acutely aware of the impact that a fuel price hike causes. Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed. Will take the nation into confidence on the specifics of the IMF-PTI deal soon," wrote the prime minister.

"We will get out of these economic difficulties, InshaAllah," he added.

PM Shehbaz followed by criticising the past government's handling of negotiations with the global lender, saying: "I wonder whether those who struck the worst ever deal with IMF and took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing?"

"Details soon," he reiterated.he surge in prices, although a highly unpopular move that has the nation fuming, had been a key demand of the IMF for a long time.

Finance Minister Miftah Ismail on Monday said that if the government does not abolish the subsidies on petroleum products by July (in effect raising the prices), then the country will default.

In a bid to bring economic stability and revive the stalled multi-billion-dollar IMF programme, the government had increased the price of petrol by a whopping Rs60 per litre last month.

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PM shifts blame on PTI for high fuel prices

Prime Minister Shehbaz Sharif on Thursday promised the nation that his government would release "details soon" regarding the previous PTI regime's deal with the International Monetary Fund (IMF).

His message on Twitter comes a day after the government raised fuel prices by as much as nearly Rs60, with petrol reaching Rs233.89 — unprecedented in the country's history.

I wonder whether those who struck the worst ever deal with IMF & took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing? Details soon https://t.co/6Cjeimgfd1

— Shehbaz Sharif (@CMShehbaz) June 16, 2022

"Acutely aware of the impact that a fuel price hike causes. Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed. Will take the nation into confidence on the specifics of the IMF-PTI deal soon," wrote the prime minister.

"We will get out of these economic difficulties, InshaAllah," he added.

PM Shehbaz followed by criticising the past government's handling of negotiations with the global lender, saying: "I wonder whether those who struck the worst ever deal with IMF and took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing?"

"Details soon," he reiterated.he surge in prices, although a highly unpopular move that has the nation fuming, had been a key demand of the IMF for a long time.

Finance Minister Miftah Ismail on Monday said that if the government does not abolish the subsidies on petroleum products by July (in effect raising the prices), then the country will default.

In a bid to bring economic stability and revive the stalled multi-billion-dollar IMF programme, the government had increased the price of petrol by a whopping Rs60 per litre last month.

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Shehbaz Sharif promises that he will release "details soon" regarding PTI's deal

Prime Minister Shehbaz Sharif on Thursday promised the nation that his government would release "details soon" regarding the previous PTI regime's deal with the International Monetary Fund (IMF).

His message on Twitter comes a day after the government raised fuel prices by as much as nearly Rs60, with petrol reaching Rs233.89 — unprecedented in the country's history.

I wonder whether those who struck the worst ever deal with IMF & took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing? Details soon https://t.co/6Cjeimgfd1

— Shehbaz Sharif (@CMShehbaz) June 16, 2022

"Acutely aware of the impact that a fuel price hike causes. Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed. Will take the nation into confidence on the specifics of the IMF-PTI deal soon," wrote the prime minister.

"We will get out of these economic difficulties, InshaAllah," he added.

PM Shehbaz followed by criticising the past government's handling of negotiations with the global lender, saying: "I wonder whether those who struck the worst ever deal with IMF and took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing?"

"Details soon," he reiterated.he surge in prices, although a highly unpopular move that has the nation fuming, had been a key demand of the IMF for a long time.

Finance Minister Miftah Ismail on Monday said that if the government does not abolish the subsidies on petroleum products by July (in effect raising the prices), then the country will default.

In a bid to bring economic stability and revive the stalled multi-billion-dollar IMF programme, the government had increased the price of petrol by a whopping Rs60 per litre last month.

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Shehbaz Sharif promises that he will release "details soon" regarding PTI's deal

Prime Minister Shehbaz Sharif on Thursday promised the nation that his government would release "details soon" regarding the previous PTI regime's deal with the International Monetary Fund (IMF).

His message on Twitter comes a day after the government raised fuel prices by as much as nearly Rs60, with petrol reaching Rs233.89 — unprecedented in the country's history.

I wonder whether those who struck the worst ever deal with IMF & took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing? Details soon https://t.co/6Cjeimgfd1

— Shehbaz Sharif (@CMShehbaz) June 16, 2022

"Acutely aware of the impact that a fuel price hike causes. Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed. Will take the nation into confidence on the specifics of the IMF-PTI deal soon," wrote the prime minister.

"We will get out of these economic difficulties, InshaAllah," he added.

PM Shehbaz followed by criticising the past government's handling of negotiations with the global lender, saying: "I wonder whether those who struck the worst ever deal with IMF and took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing?"

"Details soon," he reiterated.he surge in prices, although a highly unpopular move that has the nation fuming, had been a key demand of the IMF for a long time.

Finance Minister Miftah Ismail on Monday said that if the government does not abolish the subsidies on petroleum products by July (in effect raising the prices), then the country will default.

In a bid to bring economic stability and revive the stalled multi-billion-dollar IMF programme, the government had increased the price of petrol by a whopping Rs60 per litre last month.

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Govt hikes petrol price by Rs24 per litre

Finance Minister Miftah Ismail on Thursday announced that the federal government has decided to raise the prices of petroleum products by Rs24 per litre.

The new prices will come into effect from midnight tonight, the minister said while addressing a press conference in Islamabad.

After the hike, petrol will be priced at Rs233.89 after a Rs24.03 hike, diesel at Rs263.31 after a Rs16.31 increase, kerosene oil at Rs211.47 after a Rs29.49 surge and light diesel at Rs 207.47 after an increase of Rs29.16.

Ismail said the government had no choice but to "pass on" the impact of international prices to consumers in Pakistan.

The government has raised the petrol price by more than Rs84 per litre in the last 20 days.

Explaining the reasons behind another hike in prices of petroleum products, the minister said that the international price of petrol was $120 per litre.

"Our country is still facing a loss of Rs24.03 in petrol, Rs59.16 in diesel, Rs29.49 in kerosene oil and Rs29.16 in light diesel oil," he told the presser.

He said the government was spending Rs120 billion on petrol subsidies. "I have been seeing the country's situation for 30 years, but I've never seen such a situation in terms of inflation."

He also blamed former prime minister Imran Khan for deteriorating the national economy.

Ismail said the government was tied by agreements made by the PTI government with the International Monetary Fund (IMF).

He acknowledged that the middle-class will also suffer from the petrol price hike, adding the government

"We have taken difficult decisions before and we will take in the future as well to protect the country from financial difficulties," the minister said.

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Personal income tax slabs on the cards: FBR

The government is reviewing the new slabs announced for personal income tax (PIT) to bring them in line with the demands of the International Monetary Fund (IMF), the chairman of the Federal Board of Revenue (FBR), Asim Ahmad, said.

Ahmad saw it as quite the predicament given the narrow tax base which makes it difficult to raise the rate from 35% to 70% for higher income slabs.

Most of the taxpayers were excluded from initial slabs and the government wanted to protect the monthly income earner of Rs200,000.

“It is a difficult situation and different options are under consideration for jacking up rates of income slabs beyond income earner of Rs200,000 per month as this step could reduce the relief from the existing Rs47 billion proposed through the budget,” the FBR chairman FBR said, while talking to reporters outside the Senate Standing Committee on Finance meeting at the Parliament House where a meeting to finalise recommendations for budget 2022-23 was held.

The government is considering keeping low rates for slabs up to income earners of Rs5 million after which all the remaining slabs will be adjusted upwards to recover the existing relief of Rs47 billion on Personal Income Tax and then ensure net collection up to level acceptable to the IMF.

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Pakistan envoy discusses bilateral ties with Joe Biden

Ambassador Masood Khan, Islamabad’s ambassador in Washington, has met US President Joe Biden on his visit to the White House where the two discussed building a "strong basis for moving Pakistan-US ties forward".

According to a press release issued by the Pakistan Embassy in the US, Khan visited the White House for a "meet and greet" and an official photograph with the US president — an established tradition for newly appointed envoys.

"During the ceremony, the US President and the ambassador had a brief conversation on building a strong basis for moving the US-Pakistan ties forward," the statement said.

The US government follows a tradition whereby after the appointment of new ambassadors to Washington, a ceremony is held at the White House where new envoys present their credentials to the head of state conforming to their appointment.

Khan was sent to Washington on March 25, when the PTI government was still in power, but after former prime minister Imran Khan’s ouster on April 11, there was speculation that the change in Islamabad would also impact diplomatic appointments.

Later, Pakistan’s envoy to the United Nations, Ambassador Munir Akram, explained that incumbent ambassadors continue to represent the country in foreign capitals unless specifically asked by the new government to return home. Neither Ambassador Khan nor Ambassador Akram was asked to do so.

On his arrival in Washington earlier this week, Khan received a letter from the chief of protocol at the US State Department, endorsing his appointment as Pakistan’s ‘working ambassador’ in Washington.

Later, on April 19, he also received a letter from the US president’s office, formally confirming his appointment.

Meanwhile, the statement issued today said that forty-six other ambassadors were also present there for the official photograph with the President, which was taken one by one. "They too had not been able to call on the President for more than a year because of the Covid-19 restrictions," it added.

Since President Biden’s age, 79, makes him particularly vulnerable to the virus, the White House tried to minimise the president’s contact with others. Diplomatic sources in Washington earlier told Dawn that Covid-19 had also hit the credentials ceremony.

Now, the White House processed all the documents and issues the necessary letters first and then invited an ambassador for the photo session.

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