The oil prices were kept unchanged from March 2022 despite massive increase in prices in international market. Former Prime Minister Imran Khan had announced to keep oil prices fixed from March to June by giving massive subsidy. Later, the new coalition government has also followed the previous government policy to keep oil prices unchanged. Miftah noted that financial market would be stable, rupee value would improve and economy would get a boost following the decision to increase oil prices. However, the government has no other option than to increase prices following massive hike in prices in international market.

Source: The Nation May 27, 2022 01:57 UTC