Why should Pakistan keep petrol price high? Atif Mian explains
(Representational) Higher petrol price — Canva/file Dr Atif Mian says petrol currently 20% cheaper than India. Economist says price needs to remain high to bring current account in balance. Advises high petrol prices must be accompanied by a serious energy transition policy. Internationally acclaimed Pakistani American economist Dr Atif Mian has criticised politicians and journalists arguing in favour of a reduction in petrol prices in Pakistan, saying that such a view is "irresponsible and short-sighted", and explained the need to keep the rates high. He said that Pakistan just had a very serious balance of crisis and it is only due to the International Monetary Fund (IMF) nod that there is some stability in the exchange rate. "This is hardly the time to throw caution to the wind," Dr Mian said. "Pakistan needs a real strategy to get out of the perennial balance of payments trouble," the economist wrote. He elaborated by saying that the coun