It cannot afford to subsidise petroleum products and cannot bear losses. Finance Minister

ISLAMABAD: Finance Minister Miftah Ismail has said that the government cannot bear losses on petroleum products, nor can it give subsidies.

Miftah Ismail said that after the reduction of oil prices in the world market, there will be no tax on petroleum products from the Ministry of Finance and no increase in the levy, but we cannot bear the loss and we cannot afford to give subsidies.

Miftah Ismail said that in order to get a loan from the International Monetary Fund, we had to find four billion dollars. We did this by contacting friendly countries.

In response to a question, Miftah Ismail said that if Saudi Arabia confirms giving dollars for petroleum products, it is better and better. I will not talk about it much.