Finance Minister Hammad Azhar had today made the announcement that the government of Pakistan had taken a decision to import sugar and cotton from India.
He also talked about the government’s strategy to bring down rates of petrol and diesel.
“This decision is not related to the ECC [meeting that took place] but the first decision we have taken, after consultations with the prime minister, we will reduce the prices of petrol and diesel,” stated by Hammad Azhar during a press conference.
“The price of petrol will be slashed by Rs1.5 per litre while the price of diesel will be slashed by Rs3 per litre. We took this decision because now, we have some room due to a change in prices at the international market,” he added.
“However, in our neighbouring country India, the price of sugar is quite cheap,” he said. “Hence, we have decided to resume sugar trade with India”.
“However, the import of cotton from India was banned and this had a direct effect on our SMEs,” he said. “However, at the recommendation of the Ministry of Commerce, we have also decided to resume the trade of cotton with India,”
“We made the State Bank of Pakistan autonomous,” he said. “Our currency today is standing on its own feet, we are not adding dollars to it.”
