ISLAMABAD: Minister for Poverty Alleviation and Social Safety Shazia Marri says the Federal Cabinet has approved the provision of 28 billion rupees of subsidy for deserving families announced by the Prime Minister in view of hike in petroleum prices.

Addressing the news conference in Islamabad on Tuesday, she said the government will disburse this amount through targeted subsidy among 14 million families.

She said increase in prices of petroleum products was a difficult decision, but the government took this step in the larger interest of national economy.

The minister said two thousand rupees will be given to each family under the package from next month, and 38 percent of total population will get benefit from this program.

On May 20, Pakistan had given a comprehensive plan to the International Monetary Fund focusing on gradually removing fuel subsidy in view of availing a financial package, sources had informed Bol News.

The plan had proposed to the IMF focuses on giving subsidy to only poor starta of the society, furthermore, a detailed discussion on electricity losses and raising electric prices was also discussed in the meeting.

The sources privy to development had said that budget and current account deficit also came in discussion, the government delegation gave its subsequent plan in that regard. Recommendations were shared to cut expenses.

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