KP Finance Adviser criticises fuel price hike, terms levy increases \u2018weekly mini-budgets\u2019
\nDLP Report
\nPESHAWAR
\nAdviser to the Chief Minister on Finance Muzzammil Aslam has strongly criticised the recent increase in petroleum prices, alleging that the federal government was effectively introducing a \u201cmini-budget every week\u201d through repeated hikes in petroleum levy. In a statement issued through his social media accounts, Mr Aslam said weekly increases in petroleum levy had never been witnessed in Pakistan\u2019s history, even during previous programmes with the International Monetary Fund.
\nHe said that since 1958 Pakistan was currently undergoing its 24th IMF programme, but such frequent changes in petroleum levies had not occurred under earlier arrangements.
\nThe finance adviser alleged that the government of Prime Minister Shehbaz Sharif was overreacting to IMF demands and placing an excessive burden on the public.
\nMr Aslam claimed that petrol would effectively cost Rs416 per litre because of what he described as the \u201cruthless transfer\u201d of levy burden onto consumers. He further alleged that the federal government was collecting between Rs130 billion and Rs150bn every month through petroleum levies, amounting to Rs30bn to Rs35bn every week.
\nReferring to the prime minister\u2019s announcement of a Rs129bn subsidy package, he termed the measure temporary and claimed the government was merely compensating the initial Price Differential Claim amount earlier paid to oil marketing companies. \u201cThe public has sacrificed enough,\u201d he said, adding that if the government could not manage its income and expenditures, it should not impose additional burdens on citizens.
\nMr Aslam said rising inflation had made it increasingly difficult for people to afford basic necessities, including food, rent, transport, medicines and education. He added that even access to water in Karachi had become \u201cas scarce as petrol\u201d.
\nIn another statement, reacting to criticism directed at Federal Finance Minister Muhammad Aurangzeb, Mr Aslam said the prevailing economic situation reflected the collective failure of the federal government rather than that of a single individual.
\n\u201cOne cannot absolve the prime minister by blaming a single person,\u201d he said, adding that four consecutive years of low economic growth and high inflation indicated failures across commerce, agriculture, industry and finance sectors.
\nHe termed the situation a \u201cbroad-based failure\u201d of the federal government\u2019s economic policies.<\/p>\n","protected":false},"excerpt":{"rendered":"
KP Finance Adviser criticises fuel price hike, terms levy increases \u2018weekly mini-budgets\u2019 DLP Report PESHAWAR Adviser to the Chief Minister on Finance Muzzammil Aslam has strongly criticised the recent increase in petroleum prices, alleging that the federal government was effectively introducing a \u201cmini-budget every week\u201d through repeated hikes in petroleum levy. In a statement issued […]<\/p>\n","protected":false},"author":2,"featured_media":516215,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-545525","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n