Shehbaz Sharif slashes
prices of petroleum,
says final agreement
with IMF streamlined

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ISLAMABAD: Prime Minister Shehbaz Sharif announced much awaited decisions slashing the prices of petroleum in addressing the nation on Thursday.

Shehbaz Sharif, in his address to the nation on Thursday, announced that the price of petrol was being cut by Rs18.50 and diesel by Rs40.54.

The prime minister began his speech by explaining that he had inherited a “troubled economy” from the previous government. “The previous government trampled on the agreement it had with the IMF and laid landmines for us,” he said.

ISLAMABAD: Prime Minister Shehbaz Sharif addressing the nation on Thursday.

PM Shehbaz said the PTI government, during its final few weeks, had slashed fuel prices even though the government’s coffers were empty. “This was done so our govt would fall into difficulties.”

The prime minister began his speech by explaining that he had inherited a “troubled economy” from the previous government. “The previous government trampled on the agreement it had with the IMF and laid landmines for us,” he said.

PM Shehbaz said the PTI government, during its final few weeks, had slashed fuel prices even though the government’s coffers were empty. “This was done so our govt would fall into difficulties.”

He explained why his government had to increase petrol prices after taking over. “With a heavy heart, and due to rising oil prices in international markets, we increased prices due to which the poor got burdened. We had no other way. We had to take tough decisions.

“However, today with God’s blessing, oil prices are declining in global markets and it is by his mercy that today we have got the chance to reduce the prices back.”

Meanwhile, Prime Minister Shehbaz Sharif on Thursday lauded the efforts of the teams led by Finance Minister Miftah Ismail and Foreign Minister Bilawal Bhutto Zardari that led to the revival of the International Monetary Fund (IMF) programme.

“Congratulations to our Finance and Foreign Office teams led ably by Ministers Miftah Ismail and Bilawal Bhutto for their efforts in getting the IMF programme revived,” he said in a tweet.

The prime minister regarded the efforts as “a great teamwork”. PM Sharif said the Agreement with the Fund had set the stage to bring the country out of economic difficulties.