Tarin indicates rise in petroleum product prices



2022-02-10 08:07:00

ISLAMABAD: Finance Minister Shaukat Tarin hinted at an additional improve in petroleum product prices in the approaching days, saying that the federal government can not maintain gas charges artificially low.

Talking on the  Geo Information Programme, “Aaj Shahzaib Khanzada Kay Saath”, the finance minister, whereas referring to a hike in oil prices in the worldwide market, categorically rejected the thought of decreasing petroleum prices artificially.

If the worldwide market witnesses a hike in prices, the federal government should shift the burden onto the folks, he added.

He hesitated to again the federal government’s resolution to keep up unchanged petroleum prices for the primary 15 days of February, saying that although this resolution is in style, it’s not going to maintain for an extended interval.

The Finance Minister additionally make clear the following fiscal 12 months’s funds and termed it a problem for the federal government. He was of the view that the federal government could be below strain on the time of presenting the following funds on account of upcoming common elections.

IMF calls for to abolish tax exemption from provident fund

Tarin mentioned that the Worldwide Financial Fund (IMF) demanded of the federal government to take away tax exemption from the provident fund.

Tarin, nonetheless, mentioned that he was resisting the demand because the provident fund is a security web of the folks and the removing of tax exemption from it should create a burden for the poor. The federal government will negotiate with the IMF on the matter of tax exemption on provident funds, he added.

He maintained that the IMF is in opposition to the subsidy on gasoline for the fertiliser business.

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