Oil to remain stable as govt fends off PTI 'land mines'.

KARACHI -- Calling the last PTI-led government's economic policies 'landmines' for the new administration of Prime Minister Shehbaz Sharif, Finance Minister Miftah Ismail vowed on Thursday to maintain petrol prices at their current level, without imposing any new tax or levy on petroleum products.

He also hinted at a targeted subsidy for the poorer segments of society and lower income groups that would not benefit the 'financially stable class', but didn't share any details about the proposed plan.

Speaking at a press conference at the PML-N Karachi office, the finance minister shared sketchy details of his plan about the future ranging from his recent talks with IMF officials to meetings in Saudi Arabia and 'blunders' of the past rules to structure of competitive economy.

'I have shared this fact before and mentioning here again that the government is currently accruing a loss of Rs30 per litre on petrol. The government is losing Rs70 per litre on diesel.

'Ultimately, the burden of all these subsidies is placed on the exchequer. If the current oil prices are maintained for May and no decision is taken to increase them, the government would be losing Rs102 billion. But we are trying our level best to keep them maintained,' he added.

Flanked by PML-N leaders Nasiruddin Mahmood and Ali Akbar Gujjar, the finance minister blamed the PTI for the 'deliberate measures' which it made after sensing the fall of its government just to create challenges for its successors. The situation had finally started denting the national economy, but it was 'controlled measures' of the new coalition government which had managed to 'keep things under control', he claimed.

Accusing Imran Khan of using the PM Office to facilitate his 'real estate friends', Mr Ismail said the former premier had directly contacted the IMF chief for allowing amnesty for realtors and those associated with the construction industry to 'favour his few close aides'.

'Here I share with full authority and responsibility that he [Imran Khan] directly made a phone call to the IMF managing director and asked her to allow one last amnesty for the real estate sector, telling her that he has some very close friends which are associated with this sector,' he added.

'After showing resistance earlier, finally the IMF allowed that exemption. He [Imran Khan] didn't ask for...