ISLAMABAD: Federal Minister for Finance Miftah Ismail said on Thursday, that the prices of cooking and ghee would soon come down to Rs350-Rs400 as the price of edible oil in the international market has significantly come down.
Addressing a press conference in Islamabad, the finance minister said that the oil prices in the international market have come down from $123/barrel to $100/barrel. We will make sure that the benefit of a decrease in oil prices reaches the public, he added.
“PTI had laid landmines for the incoming government,” Miftah claimed, “But overall economic situation of the country is improving.”
Miftah Ismael claimed that the rumors of suspension of the IMF program are baseless, the IMF agreement will be signed in a few days.
“One of the nuclear plants capable of generating 1,100MW will be back online by tomorrow while one the Haveli Badal-II power plant will soon be generating electricity,” The finance minister said.
Pakistan is still facing an electricity shortfall. Our capacity is low while the demand is high, he added.
He said that the government is also setting up a 6,000MW solar-powered plant.
Talking about the foreign reserves situation, he said that the situation will improve once the government receives the IMF tranche.
Miftah said that the foreign exchange reserves is over $10b, adding that the situation improved after Pakistan received $2.3billion from China, he added.
