Can’t afford to subsidize petroleum products and can’t bear the loss, Finance Minister

Islamabad: Finance Minister Miftah Ismail has said that the government cannot bear losses on petroleum products nor can they give subsidies.

Speaking on a private TV program, Miftah Ismail said that after the decrease in oil prices in the world market, there will be no tax on petroleum products by the Ministry of Finance and no increase in the levy, but we cannot bear the loss. And neither can afford to subsidize.

Read more: Saudi Arabia considering providing $100 million for petroleum products to Pakistan

Miftah Ismail said that the International Monetary Fund had set a condition to arrange four billion dollars before giving a loan, on which we have arranged this amount by contacting friendly countries.

In response to a question, Miftah Ismail said that if Saudi Arabia confirms giving dollars for petroleum products, it is better and better. I will not talk about it much.

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