PM Shehbaz Sharif to address nation today

Islamabad: Prime Minister Shehbaz Sharif will address the nation today amid the country's current economic situation.

In his address, the Prime Minister will take the nation into confidence over the difficult economic situation of the country while he will also discuss the facts regarding the rising prices of petroleum products.

Sources said that Prime Minister Shahbaz Sharif will brief the nation on the future plan of action. He is also expected to announce a relief package.

It is pertinent to mention that the federal government has decided to raise the prices of petroleum products by 30 rupees per litre, with the hike set to go into effect at midnight tonight.

This was announced by Finance Minister Miftah Ismail while addressing a news conference in Islamabad on Thursday night.

He said Prime Minister Shehbaz Sharif has taken this difficult decision in the larger interest of national economy.  He said that it is a hard decision for the government to impose such kind of burden on general public.

The Minister said that new prices include Petrol 179.86 rupees per liter, High-Speed Diesel 174.15, Kerosene 155.56 and Light Diesel 148.31 rupees per liter.

He said the government is providing 56 rupees per liter subsidy on petroleum products as the previous government had fixed these prices which caused to increase in inflation in the country.

Miftah Ismail said that IMF Program cannot be approved for Pakistan without an increase in petroleum prices.