Fuel prices to come down by 8 paisa per liter: finance minister
Amid the coalition government’s indecisiveness over
fortnightly fuel price change, Finance Minister Miftah Ismail has said that the
prices of petroleum products will witness a nominal change of Re0.08 per litre.
Speaking
to a local TV channel on Saturday, the federal minister said the petrol or
diesel will either be increased or decreased and added that the final decision
on fuel prices will be taken today (Sunday).
Speaking
about the declining rupee value, Miftah said he cannot predict the exchange
rate of the local currency against the dollar but expressed hope that the rupee
will witness stability.
However,
he added that the government will not intervene to control the rupee value.
He also
assured the masses that the electricity tariffs will start declining from
October.
The people would enjoy maximum relief in the next two months. Relief and rehabilitation of flood-torn areas are the priorities of the coalition government, he added.
The
minister said Qatar, United Arab Emirates (UAE), Saudi Arabia and Asian
Development Bank (ADB) are showing keen interest in various sectors of
Pakistan.
Qatar was
seeking a $3 billion plan to invest in the stock exchange, solar and LNG
plants, he added.
Collectively,
he said, investment of about $5 billion would be made in different sectors of
Pakistan. The ADB alone would provide funds worth $1.5 billion to kick start
projects of public interest, he added.
Expressing
optimism about the support of world countries, he said: “We will overcome all
difficulties being faced in the economic and business sectors with the help of
friendly countries and international organisations.”
To a
question about the confidence of investors in this region, Miftah said that the
government is taking all possible measures to bring improvement in the stock
market, currency, and investors' confidence.
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