{"id":8606,"date":"2022-06-06T14:51:03","date_gmt":"2022-06-06T14:51:03","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=8606"},"modified":"2022-06-06T14:51:03","modified_gmt":"2022-06-06T14:51:03","slug":"miftah-ismail-rules-out-imposition-of-financial-emergency-in-pakistan","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/miftah-ismail-rules-out-imposition-of-financial-emergency-in-pakistan\/","title":{"rendered":"Miftah Ismail rules out imposition of financial emergency in Pakistan"},"content":{"rendered":"<p>ISLAMABAD: Finance Minister Miftah Ismail Monday ruled out the possibility of a financial emergency in the country after the government took steps to rectify the ongoing economic turmoil.<br \/>\nIn a tweet, Ismail said the country was not facing a financial emergency as the price of petrol had been increased twice \u2014 and hiked up to Rs209.86, while there has also been a massive increase in other petroleum products.The finance minister, without specifying a date, added that Prime Minister Shehbaz Sharif would at some point announce austerity measures to save government expenditure.<br \/>\nIn a bid to bring economic stability and revive the stalled multi-billion dollars International Monetary Fund (IMF) programme, the government had increased the price of petrol by a whopping Rs60 per litre.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/pakistan\/imran-khan-takes-a-helicopter-to-bani-gala-amid-strict-security.html\" target=\"_blank\" rel=\"noopener noreferrer\">Imran Khan takes a helicopter to Bani Gala amid strict security<\/a><\/strong><\/em><\/p>\n<p>Moreover, the National Electric Power Regulatory Authority (NEPRA) last week raised the basic power tariff by Rs7.9078\/kWh for the next fiscal year 2022-23 \u2014 increasing the burden of inflation on the people.<br \/>\nThe Oil and Gas Regulatory Authority (OGRA) had also last Friday approved an increase in gas prices \u2014 a hike of 45% was approved for the Sui Northern Gas Pipelines Limited (SNGPL) while 44% for the Sui Southern Gas Company (SSGC).<br \/>\nThe finance minister had also assured last month that the government would reach a staff-level agreement with the international money lender by June, without specifying the exact date.<br \/>\nSeparately, the State Bank of Pakistan (SBP) said the government and the central bank were taking all necessary measures to ensure macroeconomic stability in the country.<br \/>\nThe recent difficult decisions taken by the government \u2014 including the reduction of subsidies on petroleum products \u2014 are expected to pave the way to reaching an agreement with the IMF and release of the tranche and financial assistance from other multilateral agencies and friendly countries.<br \/>\n&#8220;We are confident that these measures will relieve the temporary stress being faced due to elevated global commodity prices and geopolitical tensions, and eliminate uncertainty in the economy,&#8221; the central bank said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: Finance Minister Miftah Ismail Monday ruled out the possibility of a financial emergency in the country after the government took steps to rectify the ongoing economic turmoil. In a tweet, Ismail said the country was not facing a financial emergency as the price of petrol had been increased twice \u2014 and hiked up to [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":8524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9],"tags":[1247,2754,5404,160,375,253],"class_list":["post-8606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest-news","tag-international-monetary-fund","tag-national-electric-power-regulatory-authority","tag-pm-shehbaz-sharif","tag-imf","tag-miftah-ismail","tag-pmln"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/8606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=8606"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/8606\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/8524"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=8606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=8606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=8606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}