An increase in electricity tariff would follow fuel price adjustment through withdrawal of subsidies under principles agreed to with the International Monetary Fund (IMF), Minister of State for Petroleum Musadiq Malik said on Friday. He said at a news conference that Finance Minister Miftah Ismail had very skillfully finalised conditions with the IMF in recent negotiations. The minister said Pakistan has committed to ending global subsidies that are equally available to the rich and the poor. Pakistan’s ambassador in Moscow approached the Russian energy ministry, but did not get a response either on cheaper oil or gas, said Mr Malik. He said PTI was also spreading disinformation about purported cheaper Indian oil prices following the Russian deal.

Source: The Nation May 28, 2022 07:25 UTC