In a press conference following the Apex Committee meeting of the Special Investment Facilitation Council (SIFC), the caretaker government announced its decision to increase gas prices across the board.

Caretaker Minister for Energy Muhammad Ali revealed that this is necessary to prevent significant losses amounting to Rs. 350 billion in the gas sector, emphasizing the crucial link between fiscal stability and overall economic well-being.

Dr. Shamshad Akhtar, the caretaker Minister for Finance, underscored the holistic approach being taken by the government. She stressed that all ministries will work collaboratively to enhance macroeconomic stability, and cabinet committees are designing a roadmap to achieve this goal.

Akhtar highlighted the importance of fiscal discipline as a cornerstone of macroeconomic stability and mentioned the government’s efforts to revive the economy through reforms. She also emphasized financial inclusion to protect vulnerable segments of the population.

Furthermore, Akhtar discussed the need for fiscal coordination with monetary and external sectors and acknowledged the burden that State-Owned Enterprises (SOEs) place on the national exchequer. She revealed plans to establish a central monitoring unit (CMU) to improve corporate governance within SOEs and prepare them for privatization.

Additionally, Akhtar mentioned the intention to diversify the debt burden through the capital market, aiming to deepen and broaden the capital market. Government securities would also be floated on the Pakistan Stock Exchange, extending their maturity to benefit the common citizen.

Source: Pro Pakistani