Under the new pricing mechanism, any fall in international oil prices will eventually trickle down to end consumers - if not in the current cycle, then in the next. Mr Ismail has explained that the price increase was only to cover pricing differentials in fuel sold over the past fortnight. Read: Pakistan needs to ‘do more’ for double IMF payout
He cannot be faulted for exercising fiscal restraint when the IMF is breathing down his neck to see how responsibly the government behaves with public funds. Mr Ismail has a thankless job, but it need not be so humiliating. They only opened the door for the PML-N’s allies and sympathisers to also throw their punches at the beleaguered finance minister, leaving him scrambling to provide justifications.
Maryam Nawaz’s public distancing from Finance Minister Miftah Ismail over the recent fuel price hike, and her assertion that her father had stormed out of a meeting in which it was discussed, were quite uncalled for. WITH one camp in the PML-N repeatedly undermining the party’s own government, it is no wonder that economic and political stability has been so hard to come by.
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