Miftah Ismail claims that ‘corruption’ is the cause of the increase in petrol prices.

Former finance minister Miftah Ismail has asserted that the recent escalation in petrol prices engenders suspicions of wrongdoing.

Miftah Ismail asserted that more market surveillance may have averted hoarding and price manipulation.

Ismail contended that augmenting taxes would have been a more advantageous alternative than significantly elevating the prices of petroleum products. He cautioned that increasing petrol and diesel prices by Rs55 would precipitate a substantial rise in inflation throughout Pakistan.

In response to a query during the program, Miftah Ismail stated that the anticipated surge in inflation would impose an even greater hardship on the average person.

He stated that if prices needed to be raised, the government ought to have absorbed the impact rather than transferring the full expense to the public.

The former minister expressed his inability to see the rationale for the significant increase in petrol prices, remarking that the action suggested a “whiff of corruption.”

He asserted that it seemed the government had essentially bestowed a favor onto Pakistan State Oil and other petroleum corporations by increasing fuel prices.

Ismail asserted that fuel acquired at reduced costs ought to have been sold at that same price, and that price increases should only occur upon the importation of more costly fuel.