Finance Minister Miftah Ismail on Monday said that the country was out of the financial crisis following the increase in price of petrol.
The minister took to his social media account to state that the prime minister was going to take some austerity measures to save the government’s expenditures.
The Pakistan Muslim League-Nawaz (PML-N)-led coalition government came into power in April following the no-confidence motion against former prime minister Imran Khan.
In the last fifteen days, the prices of fuel increased twice due to which all the commodities including basic necessities got expensive.
With the increment in fuel prices, the tariff on electricity and gas prices has also increased.
Ismail stated today that there was no financial emergency nor would there be any declaration of such.
He assured people that the country was out of the financial crisis.
The minister however did not mention if the price of commodities would decrease and did not give any details as to the government’s plan of action to come out of the crisis.