Fuel would have been much more expensive under PTI’s deal with IMF: Miftah

Finance Minister Miftah Ismail on Wednesday said that the prices of diesel and petrol would have been significantly higher under the agreement the PTI regime made with the International Monetary Fund (IMF).
Speaking to the media in Karachi, the minister came down hard on the PTI regime for what he said was its incompetence in addressing the country’s economic challenges.
“They told the IMF that they would not incur a loss (offer subsidies) on diesel — right now you are incurring a loss of Rs70 per litre — but they had promised the IMF that they would not incur a loss and would instead impose a Rs30 levy and 17 per cent sales tax, which means that, according to the agreement made with the PTI, diesel should be Rs150 more expensive. What is Rs145 right now should be Rs295,” Ismail said.
He alleged the previous government did not tell the people about these agreements, adding that Prime Minister Shehbaz Sharif “was and is resisting” these pacts.
Source: dawn.com