Fuel prices to remain stable as country has 60 days of reserve: Finance Minister

by: Nuaman Ishfaq Mughal
Islamabad: Finance Minister Miftah Ismail hinted that the fuel prices would be stable in the coming months as that Pakistan had 60 days of fuel reserve because of $1.2 billion in oil financing from a friendly country, the name of which he didn’t disclose.
Addressing a press conference in Islamabad, Finance Minister Miftah Ismail said that there had been a reduction in imports due to the constructive measures taken by the government over the last few months, which helped create a balance between imports and exports.
The Finance Minister further said that an agreement had been signed with the IMF, following which the World Bank and the Asian Development Bank would also open their financing for Pakistan.
Commenting on recent rupee depreciation against the US dollar, Miftah Ismail said that the political turmoil in the country resulted in the decline of the rupee as it created panic in the market. He expected the situation would move towards normalization after improvement in the political situation in the next few days.