What’s in store for Pak PM Shehbaz Sharif after steep price hike?

For Pakistan Prime Minister Shehbaz Sharif, troubles do not seem to be ending. As his government is trying to do all it can to save Pakistan from a default, differences of opinion within his party are widening. His niece and daughter of PML-N supremo Nawaz Sharif Maryam Nawaz Sharif came out strongly opposing his decision to hike taxes, saying that the party supremo was not involved in this decision making.

“This is not my government. Our government will be when Nawaz Sharif returns to Pakistan,” Maryam Sharif said at a youth wing meeting, reported the Express Tribune. She also underlined that only her father could take Pakistan forward.

While Maryam has been hinting at Nawaz’s return to Pakistan, there is no uncertainty yet.

The country’s Finance Minister Ishaq Dar, a close aide of Nawaz, after reducing fuel prices, had to resort to increasing them after hitting a deadlock with the International Monetary Fund on resumption of the much needed financial assistance package. The unveiling of the Rs 170 billion mini budget will further push prices which will not only impact the common people but also the industries.

A litre of petrol in Pakistan now costs (Pakistani) Rs 272 – a historical high speed diesel (HSD) Rs 280 as Islamabad which is facing a potential default is now rushing against time to resume the IMF loan programme. On Wednesday the price of petrol was raised by Rs 22.20 a litre at a single stroke, for HSD it is an increase by Rs 17.20.

Also read: As Pakistan raises taxes to please IMF, many smaller firms may be forced to shut down