IMF: IMF to discuss subsidies on petroleum products, electricity and gas upon arrival in Pakistan

The International Monetary Fund special delegation is ready to arrive in Pakistan to discuss budget recommendations as well as oil, electricity and gas subsidies with the Federal Government.

It comes after Finance Minister Miftah Ismail held a meeting with the Executive Directors of the International Monetary Fund (IMF) in Washington for the relaunch of the Expanded Financing Facility (EFF) program last month and agreed on recommendations. of the IMF aimed at reducing the phase of fuel subsidies. wise.

The global financial institution’s delegation will stay in Pakistan for 10 days to hold talks with Pakistani officials, Ary News reported.

In addition to reviewing the federal government’s plan for subsidies on petroleum products, electricity and gas, the IMF delegation will also review taxes and duties collected during the next round of talks.

They will hold talks on ending additional subsidies worth 500 billion rupees, sources added.

In fact, the Minister of Finance has previously stressed that the government will do everything possible to reinstate the Extended Financing Facility (EFF) program with the International Monetary Fund (IMF).

“We will reinstate the program. If the government were to tighten its belt, it would,” he said, adding that no additional burden would be imposed on the people.

Pakistan is already grappling with a massive increase in external debt and its economy is collapsing due to low investment, low exports and a low productivity growth cycle, highlighting the structural weaknesses of the country’s economy.


About Author

Comments are closed.