Increasing Petrol Prices Were Inevitable Speaking at a news conference with Minister of State for Petroleum Musadik Malik, Miftah Ismail said the price increase was inevitable “to save Pakistan from the default”. “The decision was not an easy one, as this would increase inflation and consequently add to people’s miseries,” Ismail said, adding that the previous government and global market conditions had left no other option. He said the prices of all essentials had been brought to their purchase price and the element of subsidy or differential price claim had been eliminated. “There is no more government loss on the sale of petroleum products,” he said, hoping to reach an agreement with the IMF for reviving loan support.