Subsidy ended for the rich, to be provided to the poors: FM


Finance Minister,(FM) Miftah Ismail has said we have abolished subsidy for rich people and are providing subsidy to poor segments of society.
“We ended subsidy for the rich and allowed it to the poor people. The way Imran Khan provided subsidy, the government would have gone bankrupt. Government is providing protection to the poor masses under relief package ”, he said this while addressing a press conference here Saturday.
Hike in prices of petroleum products led to stabilize rupee and implementation on the decision to scale down the prices of sugar will start from today, he added.
“I have never said that I will pacify IMF.
Saudi Arabia is wanting to provide more financial assistance to us. I will talk about it in the month of July. 3 billion dollars Saudi Arab program will be extended.
“ We are going to get 3 billion dollars from IMF. More 2 billion dollars will be provided to us due to extension in program. One billion dollars will be provided by world bank due to agreement with IMF. 2.50 billion dollars will come from ADB. Collectively 9 billion dollars are in pipeline.
Giving indication for not increasing the prices of petroleum products from June 01 he said a big increase in the prices of petroleum products by Rs 30 per liter was made on May 26 and it is not appropriate to enhance the prices of petroleum from June 01.
He pointed out there is process for scaling up the prices of petroleum OGRA summary goes to petroleum then finance and then to Prime Minister. Summary has not come so far. When it comes then we will further deliberate over it.
He underlined the Prime Minister has decided to launch the Sasta Diesel, Sasta Petrol Program to compensate weaker segments of the society after increase in Petroleum prices, under which 14 million deserving households will be provided two thousand rupees on monthly basis.
This program will cost 28 billion rupees every month. He said the relief amount will also be incorporated in the upcoming budget.
He held seven million households of BISP are also included in the program.
Miftah Ismail said woman head of the family, whose household income is less than forty thousand rupees, can register themselves for this program by send their National Identity Card number at number 786.
He indicated another program is also being launched under which flour will be provided at 40 rupees per kilogram and sugar at 70 rupees per kilogram.
We have abolished ration scheme, he remarked. Nothing was discussed with IMF in Doha with reference to privatization of institutions, he added. Politics continues to run. We have to save Pakistan.
He stated that budget for the next financial year will be presented on June 10.