ISLAMABAD: Minister for Finance Miftah Ismail on Monday said the government will devise a policy to increase petroleum prices.

The elite class having big vehicles could not be given subsidy, however, those using less petrol such as motorcyclists would be given relief, he said while talking to a private news channel.

Miftah said the present government would bring administrative improvement in the next few months. Prime Minister Shehbaz Sharif had advised him that no economic pressure should be put on the common people, he added.

Read more: Pakistan can’t afford subsidy on petroleum products: Miftah Ismail

He said the government would make all-out efforts to reduce the budget deficit which had increased during the Pakistan Tehreek-e-Insaf (PTI) regime. “We will collect more tax than our predecessors without levying any new tax.”

Replying to a question, the finance minister said the devaluation of the rupee and wrongdoings of the PTI government were the main reasons for an inflation in the country.

The present government was fully focused on addressing all the economic ills, he said, adding they had initiated talks with the International Monetary Fund (IMF) in time. The government was not interested in reversing the State Bank bill yet, he said

Read more: IMF team visit Pakistan for meetings with Finance Minister Miftah Ismail

To another query, he said Prime Minister Shehbaz Sharif would leave the office gracefully if a vote of no-confidence succeeded against him.