Minister for Planning Ahsan Iqbal said on Tuesday that the increase in prices of petroleum products is directly linked to rates in the international markets and the condition of the International Monetary Fund (IMF), of course, is to withdraw subsidies.

Addressing a press conference along with Prime Minister s Advisor on Kashmir Affairs and Gilgit-Baltistan Qamar Zaman Kaira in Islamabad on Tuesday, he said that no one can justify subsidy with debt money, while global oil prices are rising.

The minister said that the previous government didn’t treat the governments of Gilgit-Baltistan and Kashmir well but our government will not do that, adding that the political biases should be kept aside in the current situation.

An increase in the prices of petroleum products was inevitable to protect the country from bankruptcy, he said.

The Minister expressed hope that foreign investors will come to Pakistan and the country will soon be on track progress.

Ahsan Iqbal said that Prime Minister has directed to ensure the supply of urea to the farmers. He informed that Prime Minister also asked authorities concerned to expedite the procedure of obtaining urea from China.

He said that Pakistani institutions including the Armed Forces of Pakistan have played a very important role in getting out of the FATF gray list.