Rs14b subsidy being spent to maintain POL prices: Dr. Salman
By Muhammad Ali Malik

ISLAMABAD—Caretaker Minister for Finance and Economic Affairs Dr. Salman Shah Sunday said the government is providing Rs. 14 billion per month on account of subsidy to maintain petroleum prices in the country, aimed to effectively control the increasing inflation.
Talking to newsmen, the Minister said, increase in petroleum prices directly affects the prices of all commodities specially edible items, which ultimately has to be sustained by the common man.
Keeping in view the hardship of masses, the government has decided not to increase petroleum prices despite the hike in the international markets and was bearing Rs. 14 billion per month, he added. Dr. Salman said entire world was in the grip of inflation but, the government was determined to control food inflation to provide edible items on reasonable rates to the masses.
Presently, the country is producing 20 to 25 percent of the total petroleum requirements, while the remaining is being imported to meet the energy demands. This year, import of energy products could reach $ 10 billion, he added.
He said, inspite of political ups and downs, the country’s economy is moving in the right direction with fairly well functioning of markets.
Developmental projects across the country are in progress, stock markets are on its path to recovery, the Minister said adding “all foreign direct investment related projects are progressing.”