Business news Pakistan

Petrol price hike, Country can’t be run on subsidies, Fawad Chaudhry

ISLAMABAD: Reacting to the widespread condemnation and criticism of the government over the recent major increase in the prices of petroleum products, Federal Information Minister Fawad Chaudhry said that the entire country could not be run on subsidies.

A day earlier, the PTI-led government had announced a major price hike in petroleum products, increasing the per litre cost of petrol by Rs10.49 and high-speed diesel by Rs12.44 for the next fortnight.

In a statement, Fawad Chaudhry said that the fuel rates were raised due to an increase in international market prices. The oil prices in the country are linked with international prices, he said, explaining that the prices will fall in the country when the commodity’s rates will decrease in the world market.

“These economic difficulties are temporary,” he added. The information minister said that the nation will face the difficulties together.

“The government is being criticised over the oil price hike as if we live on a separate planet,” said the information minister.

Admitting the difficulties faced by salaried persons, Chaudhry stressed on the need for the private sector to increase the salaries of their employees.

“An increase in income and jobs is the solution to this inflation,” said Fawad Chaudhry, adding that the industry, agriculture, and construction sectors are making historic profits.

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