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Pakistan's decision on fuel price a "mistake," Clinton says

Business Materials 7 January 2011 02:48
Pakistan's reversal of a decision to raise fuel prices was a "mistake," US Secretary of State Hillary Rodham Clinton said Thursday as she continues to urge Islamabad to reform its economic management.
Pakistan's decision on fuel price a "mistake," Clinton says

Pakistan's reversal of a decision to raise fuel prices was a "mistake," US Secretary of State Hillary Rodham Clinton said Thursday as she continues to urge Islamabad to reform its economic management, dpa reported.

"We have made it clear ... that we think it is a mistake to reverse the progress that was being made to provide a stronger economic base for Pakistan, and we will continue to express that opinion," Clinton said.

"We believe that the government of Pakistan must reform its economic laws and regulations, including those that affect fuel and its cost."

   Pakistani Prime Minister Yousuf Raza Gilani on Thursday announced he was reversing the recent and unpopular fuel price hike, in an apparent bid to appease the opposition after losing his majority in Parliament.

   The decision to raise the price by 9 per cent on December 31 opened rifts in Gilani's fragile ruling coalition.

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