ISLAMABAD
The Pakistan Economy Watch (PEW) on Friday said the previous government laid economic mines for the present government which is becoming difficult to deal with.
The former government announced a huge subsidy on electricity and oil in its last days which is costing up to three billion rupees daily, it said.
In addition, the previous government deliberately planned to reduce oil and gas in the country to tarnish the image of the new government, but their decision is also hurting the people, said Dr. Murtaza Mughal, President PEW.
He said that despite the agreement with the IMF; the government was not ready to withdraw the oil subsidy as it would provoke a public backlash.
For keeping fuel prices capped at current levels for the next fortnight, the cash-strapped government will have to pay Rs72.33/litre on diesel and Rs30.31/litre on petrol as price differential claim to the oil sector, denting the national kitty by another Rs40 billion which is not affordable.
Murtaza Mughal said that any friendly country except China and no international lender including IMF and the World Bank, will lend to Pakistan unless the US wanted it.
