Former Finance Minister Miftah Ismail criticized the recent increase in petroleum product prices, saying that raising prices at this stage is equivalent to giving additional profit to oil companies.
He said that the petrol and diesel currently being sold by oil companies were purchased before February 28 at lower prices, therefore there was no immediate need to increase prices. According to him, the increase mainly benefits oil companies.
Miftah Ismail added that the situation is similar to when the government allowed sugar mills to export sugar.
He said that the decision increased profits for sugar mill owners while the public had to bear the consequences, and a similar impact could be seen from the rise in petroleum prices.
