Finance adviser Shaukat Tareen has said that there will be no reduction in the prices of petroleum products, the agreement reached with the IMF will have an effect.
Islamabad: If 17% sales tax is imposed then the price of petrol will be Rs.175/=. According to details, Finance Advisor Shaukat Tareen while addressing a press conference in Islamabad said that the agreement reached with IMF in March will have an effect.
Shaukat Tareen said in a press conference that everything is going in the right direction for the betterment of Pakistan’s economy. The rise in prices of petroleum products has led to a rise in inflation
A36 per cent increase in revenue over the previous year. The government is focusing more on essential commodities to mitigate the effects of inflation. The trade deficit widened to 7.7 billion, exports fell 2.5 to 3.5 per cent, the biggest difference being petroleum products, then vaccines were bought for 400 billion in October-November. 1150 billion petroleum products, then food items have risen, altogether 1.4 billion is the difference between the four items.
Oil prices should not go up too much. Now we are seeing stagnation in petrol prices. LNG prices will also lose momentum. There will also be a price decrease trend in food items. He said that domestic inflation has actually come down from last year, other items became more expensive due to an increase in petroleum products, there is a monthly difference of 8 508 million in petroleum products. The discount rate in the country has been increased to 8.45. Prices, LNG, coal and edible oil prices have gone up, all these things are imported, these things have had an impact on inflation, domestic inflation has come down compared to last year, global inflation is rising, which The effect is coming in Pakistan.
Finance Advisor said that the State Bank Of Pakistan (SBP) would issue the monetary policy in a month and a half and LNG prices would come down. Sales tax has been reduced to zero, 17% sales tax is a legal right to be withdrawn. Money will not revise the flash rate in the budget. Right now the rate is 8.5%. The government has taken 500 from IMF in March. At that time no one spoke. Trade Adviser Abdul Razzaq Dawood said that the country’s exports and remittances are increasing, we will have to import more corona vaccines.
