ISLAMABAD, Jun 16 (APP): Minister of State for Petroleum Dr.Musadik Malik on Thursday said the government was pressing hard to put the country’s economy on right track, to control inflation, also saying that these challenges would be overcome in two to three months.
He expressed confidence that in the upcoming few months, there would be financial stability and the country would be back on path of progress and development.
Talking to a private news channel, he said that the PTI government caused Rs.1200 to Rs1500 billion extra burdens over common people in the form of fuel subsidy and petroleum products.
He further said said the PTI government in their last three years had enhanced the circular debt in gas sector to Rs 1400 billion and circular debt in electricity to Rs. 1100 billion, which was unprecedented.
He said the government was left with no other option but to increase the petroleum prices as the crude oil prices in the international market had gone beyond $120 per barrel.
“The government has laid out a relief package of Rs 28 billion monthly to protect the poor from the impact of inflation by providing Rs2,000 to eight million households under the Benazir Income Support Programme,” Malik said.
