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ISLAMABAD: Finance Minister Miftah Ismail on Monday clarified that the government is not going to announce any financial emergency in the country.
Taking to Twitter, the finance minister pointed out that Pakistan was out of the financial crisis after an increase in petrol prices.
Miftah Ismail further said that Prime Minister Shehbaz Sharif at some point will announce austerity measures to reduce the government expenditure, as he ruled out any kind of financial emergency in light of the poor economic situation.
In another tweet, the minister wrote: “There is absolutely no plan to freeze foreign currency accounts or Roshan Digital Accounts or take over people’s private lockers.”
“We have never even contemplated these steps. Nor will we ever do it. Speculation on social media about this is wrong and coming from biased quarters,” Miftah noted.
It is pertinent to mention here that the PML-N-led federal government had increased the price of petrol by Rs60 per litre. Moreover, the National Electric Power Regulatory Authority (NEPRA) last week raised the basic power tariff by Rs7.9078/kWh for the next fiscal year 2022-23.
Last week, the Oil and Gas Regulatory Authority (OGRA) had also approved an increase in gas prices — a hike of 45% was approved for the Sui Northern Gas Pipelines Limited (SNGPL) while 44% for the Sui Southern Gas Company (SSGC).
