In a move aimed at providing substantial relief to the citizens ahead of the possible upcoming elections, the federal government has devised a comprehensive plan to reduce the petroleum prices.
It will be implemented through the presentation of the national budget in the National Assembly (NA) in the second week of June.
Finance Minister Ishaq Dar is spearheading this initiative, which is anticipated to bring tangible benefits to the people.
The focal point of the government’s strategy is to alleviate the financial burden on the populace.
A key element of this plan entails a reduction in the prices of petrol and diesel, which will undoubtedly have a positive impact on the daily lives of individuals.
The final decision regarding this reduction will be determined through consultation with allied parties, following prime minister’s approval.
In order to ensure a well-rounded and inclusive budget, Finance Minister Ishaq Dar will collaborate with coalition parties to gather diverse perspectives and input.
Additionally, the government will take into consideration the concerns expressed by the International Monetary Fund (IMF) during the preparation process.
Early proposals regarding the budget have already begun to surface. Notably, there are suggestions to increase government employees’ salaries by 50% and pensions by 30%.
Furthermore, there is a proposal to raise the minimum wage of workers to Rs 40,000, aiming to address income disparities and provide a more equitable livelihood for the labor force.
