Imposition of financial emergency in Pakistan not in sight: Miftah

Islamabad: Finance Minister Miftah Ismail on Monday said there was no chance of financial emergency in the country.

Taking to tweet, Ismail said the country was not facing a financial emergency as the price of petrol had been increased twice and hiked up to Rs209.86, while there has also been a massive increase in other petroleum products.

"The Prime Minister will at some point announce austerity measures to save government expenditures. But there is not going to be any declaration of financial emergency. Nor is there any financial emergency. After two increases in petrol prices, we are out of the financial crisis," the minister said in the tweet.

The Prime Minister will at some point announce austerity measures to save government expenditures. But there is not going to be any declaration of financial emergency. Nor is there any financial emergency. After two increases in petrol prices, we are out of the financial crisis.

— Miftah Ismail (@MiftahIsmail) June 6, 2022

The finance minister, without specifying a date, added that Prime Minister Shehbaz Sharif would at some point announce austerity measures to save government expenditure.