ISLAMABAD: State Minister for Petroleum Senator Musadik Malik on Monday expressed confidence that in the upcoming few months, there would be financial stability and the country would be back on the path of progress and development.
Talking to a private news channel, he said the government had taken tough decisions regarding removal of fuel subsidies for the stability of the economy, so that the country could be taken out from financial crises.
He lamented that the PTI caused Rs 660 billion extra burden on the national exchequer in three months in the form of subsidies on fuel and petroleum products.
He further castigated the PTI government for increasing the circular debt in the gas sector to Rs 1500 billion and circular debt in electricity to Rs. 2500 billion, while the loans liable on the state owned enterprises surged to 2000 billion.
He also clarified that there was no documentary evidence in the petroleum division about the “Russian offer for cheap oil” as claimed by the PTI aides. He said that the country would be moving on the path of progress and development within a few months due to better economic policies of the incumbent government.
