Govt may take more harsh decisions to improve economy: PM Shehbaz

Prime Minister Shehbaz Sharif stated on Tuesday that the government was ready to take additional difficult decisions for the economic betterment of Pakistan if the need arose, reported Aaj News.

Speaking at the Cabinet Division, he admitted that the harsh measures introduced by the government, including hiking up the price of petrol, had dragged the lower income group of the country into misery.

“The current government assumed office during tough times and we were forced to take bold decisions. We will take more such measures to improve the economy in case the need arises,” he said. “I am sure Pakistan will see economic prosperity in future.”

He highlighted that the global economy was in shambles and oil and commodity prices were soaring all over the world.

He said the government had introduced the 'Sasta Petrol Sasta Diesel' scheme keeping in mind the hardships being faced by the common man and 70 million people will benefit from it. Under the initiative, Rs2,000 per month will be disbursed to households that earn below Rs40,000 per month.

“Millions of people will avail this offer,” the prime minister said. “We will relieve the common man through budget 2022-23 and tax high income earners.”

'Sasta Petrol Sasta Diesel' scheme to benefit Pakistan's lowest income group: Miftah

He added that the incumbent government was forced to take difficult decisions because the previous leadership failed to fulfil the promises made with the International Monetary Fund (IMF).

He blamed the previous Pakistan Tehreek-e-Insaf (PTI) government for creating a challenging economic environment in Pakistan.

“At a time when global oil prices were skyrocketing, the previous government announced a subsidy on petroleum products,” Sharif regretted. “This created a trap for the government and also jeopardised public well being.”

Rs7.91 hike in base tariffs of Discos approved

There is not a single example of uplift of the common man in 3.5 years of PTI government

On June 15, the government announced a third hike in the prices of petroleum products in less than three weeks, as it looked to appease the IMF, which had emphasised the termination of energy subsidies to revive its bailout programme.

3rd time's a charm?: Govt hikes price of petrol by Rs24.03, diesel by Rs59.16

Moreover, the National Electric Power Regulatory Authority (Nepra) also approved an average increase of Rs7.91 per unit in base tariffs of power distribution companies for fisscal year 2022-23 taking it to Rs24.82 per unit, which was a prior action agreed with the IMF and World Bank. Prior to the hike, the base power tariff stood at Rs16.91 per unit.