PM Shehbaz says hiking fuel price was necessary to avoid bankruptcy

Prime Minister Shehbaz Sharif said on Friday that his government's move to increase fuel prices was necessary to avoid Pakistan from facing bankruptcy.

In his first address to the nation — a day after his government removed fuel subsidies and increased the price of petrol by Rs30 — he said it was because of the previous government that he had to take the "difficult decision" to increase fuel prices.

"The previous government is deliberately concealing facts. I want to remind them that you entered into a deal with IMF, not us. You accepted their harsh terms, not us. You pushed the country into economic mess, not us."

Shehbaz said his government was launching a new relief package of Rs28 billion per month "to protect the poor from the burden of petrol and diesel price hike".

"Under it, 14 million poor families are being given Rs2000 [each]. These families comprise 85 million people."

He said this was in addition to the monetary assistance already being given to them under Benazir Income Support Programme. "This relief package will be added in the next budget," he said.

The premier further said that he had directed Utility Stores to set the price of 10kg sack of flour at Rs400.

More to follow.



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