ISLAMABAD, Jun 3 (APP): State Minister for Petroleum Senator Musadik Malik on Friday said that the country would be moving on the path of progress and development within few months due to better economic policies of the incumbent government.
Talking to a private news channel, he said the government had taken tough decisions regarding removal of subsidies on fuel for the stability of the economy so that country could be taken out from financial crises.
He said that the government was taking effective measures to present a reasonable budget and provide relief to the masses.
He lamented that the PTI caused Rs 660 billion extra burden on the national exchequer in three months in the form of subsidy on fuel and petroleum products.
The minister further maintained that around Rs 520 billion expenses were incurred annually to run the affairs of the federal government. He said that no country could afford the selling of fuel on less purchasing price
He expressed confidence that in the upcoming few months, there would be financial stability and the country would be back on path of progress and development.
Musadik Malik also apprised that the government was working on a frame work to strengthen ties with international financial institutions to resolve the current economy’s situation.
He said the PTI government in their tenure had cause the trade deficit to surge from $27 billion to $ 35.5 billion which was unprecedented.
