The federal cabinet has postponed the increase in basic electricity tariff by Rs7.99 per unit while approving the issuance of Sukuk bonds by mortgaging five national properties.
The meeting of the Federal Cabinet was held under the chairmanship of Prime Minister Shehbaz Sharif in which the political and economic situation of the country was discussed in detail.
The Finance Minister said that Sukuk bonds would be issued in local and global markets, the value of which would be decided by investors’ conference next month. The good news would come soon from IMF, not interested in raising prices, look at the global market.
Prime Minister Shehbaz Sharif said that he will not hesitate to take any necessary steps to manage the economy, good times will come after difficult decisions.
Finance Minister Miftah faced tough questions from the Cabinet members.
Defense Minister Khawaja Asif said that the public graph of all parties has dropped due to the sharp rise in oil prices. Finance Minister Miftah Ismail said that good news would be received from IMF soon.