Former finance minister Miftah Ismail has voiced serious concerns over the recent rise in petrol prices in Pakistan. Speaking on Aitraaz Hai on ARY News, he suggested the move raises suspicions of corruption.
Miftah Ismail said better market monitoring could have prevented hoarding and price manipulation. He argued that increasing taxes would have been a safer option than sharply raising petroleum prices.
The former minister warned that making petrol and diesel Rs55 more expensive could trigger a major surge in inflation. He explained that ordinary citizens would face a heavier financial burden as a result.
During the program, Miftah Ismail added that the government should absorb part of the cost instead of passing it entirely to the public. He said sudden price hikes without proper reasoning are unfair to consumers.
Ismail also highlighted that fuel purchased at lower rates should be sold at those rates. Only when more expensive fuel is imported should prices rise. He claimed that the current approach seemed like a gift to petroleum companies such as Pakistan State Oil.
Experts agree that sudden petrol price increases can affect multiple sectors, including transportation and goods. This ripple effect could further strain household budgets and daily expenses.
Corruption concerns in fuel pricing have been debated for years in Pakistan. Critics argue that lack of transparency allows companies to benefit while citizens face higher costs. Miftah Ismail’s statements add weight to this ongoing debate.
The government has not yet provided detailed reasoning for the latest petrol price increase. Meanwhile, citizens remain worried about rising costs and the possibility of corruption influencing policy decisions.
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