LAHORE: PML-N supremo Nawaz Sharif on Monday raised concerns over the impending surge in electricity and gas prices under the directives of the International Monetary Fund (IMF), questioning the extent to which the people could bear such burdens.
Addressing a special meeting of the Punjab government alongside Punjab Chief Minister Maryam Nawaz Sharif, Nawaz Sharif stressed the pressing need to address the potential hike in utility prices imposed by the global lender. Senior provincial ministers and officials were in attendance, including Marriyum Aurangzeb, Azma Bukhari, Bilal Yasin, Syed Ashiq, and Sania Ashiq, along with chief secretaries and other concerned authorities.
During the briefing, it was revealed that previous procurement methods subsidized wheat prices uniformly, benefiting both the impoverished and the rich alike. However, mounting circular debts, now totaling Rs630 billion, posed a grave challenge to the government. If left unaddressed, experts warned the debt could soar to a staggering Rs1.1 trillion.
Nawaz Sharif reiterated the need to prioritize farmers’ concerns, stressing that government funds should be dedicated to supporting agricultural initiatives. He also emphasized the importance of ensuring fair compensation for farmers’ labor and shielding them from exploitation by middlemen.
