POL prices to change by just 8 paisa: Miftah

ISLAMABAD: Finance Minister Mitah Ismail has said the price of petroleum products will change by just 8 paisa and a decision will be taken today.

Talking to the Geo News programme ‘Naya Pakistan’, he said the dollar would lose its value against the Pakistani rupee soon but added the government would not interfere in it. He also claimed that the electricity tariff would come down in October.

To a question on deferring fuel price adjustment charges for consumers using up to 300 units, he said it would be decided later whether the charges would be received or not.

Earlier, Minister for Finance and Revenue Miftah Ismail held a meeting with a World Bank team on Sunday and discussed the bank’s initiatives RISE-II and PACE-II programmes.

The team included World Bank Country Director Najy Benhassine and Programme Leader Energy Ms Teuta Kacaniku.

The finance minister was briefed on the progress in Resilient Institutions for Sustainable Economy (RISE-II) and Pakistan Programme for Affordable and Clean Energy (PACE-II) programmes.

The meeting deliberated upon the overall progress achieved so far and discussed prior actions to be met for the timely completion of these programmes.

Dr Miftah Ismail endorsed the stakeholder officials for fast tracking the progress of all initiatives and directed for completion of all prior actions required in respect for RISE-II and PACE-II programmes.

The finance minister thanked the World Bank team for continuous support and facilitation. Senior officers from Finance Division, Energy Division and the FBR also attended the meeting.