Burden placed on people to benefit oil companies: Miftah Ismail

KARACHI (Dunya News) - Awam Pakistan Party (APP) leader and former finance minister Miftah Ismail on Tuesday said that the government’s move to hike petroleum prices has placed burden on people and actually benefitted oil companies.

Speaking on Dunya News programme "On The Front", Miftah Ismail said, “Who am I to give advice to this government?”

He said the government placed the burden on the public to benefit oil companies, adding that this is not the first time oil companies have been given such benefits. He also stated that when prices fall, the government has no concept of providing relief to the public.

The former finance minister further said that things are not as simple as they appear. He said that the government increased taxes after the Federal Board of Revenue failed to meet its revenue target.

Miftah Ismail added that petrol sales are about 230 million litres per week, while diesel sales reach about 150 million litres per week. He claimed that the government reduced the levy on diesel and increased it on petrol.