Reduction in Petrol Prices Without IMF Approval is Reckless: Miftah Ismail

Pakistan’s former top finance official Miftah Ismail has called the decision to keep the petroleum development levy (PDL) unchanged “reckless”. He said this while having a war of words with senior PTI official and fellow finance counterpart Shaukat Tarin.

Pakistan Tehreek-e-Insaf’s finance minister Miftah Sahib has been accused of “clear double speak” over the country’s relationship with the International Monetary Fund (IMF). He had blamed the previous government for violating IMF conditions before announcing fuel price hikes.

Miftah Ahmed Miftah has accused former PM Tarin acting as an IMF “Trojan Horse” by slashing petrol prices ahead of a no-confidence vote. He said the previous government provided an unfunded, unsustainable subsidy on fuel. But when he took over and approached the IMF, Pakistan was “saved” from default.

When I took over and went to the IMF we saved Pakistan from default, he tweeted.

Pakistan’s Finance Minister Ishaq Dar has announced a reduction in prices of petroleum products. The price of petrol was brought down by Rs. 12.63 per liter while the price of high-speed diesel was slashed by £1.13 per litre.