The International Monetary Fund (IMF) has made it a condition for Pakistan to increase the price of petrol and electricity in order to release another 1billion $ loan installment.
At the end of the Seventh Review Talks in Doha, a statement was issued by the International Monetary Fund in which the IMF welcomed the increase in the policy rate (interest rate) in Pakistan and clarified that the ایک 1 billion loan installment Therefore, Pakistan will have to abolish subsidies on petrol and electricity.
The statement further said that talks between Pakistan and the IMF would continue.
According to sources, the IMF mission in talks with Pakistani officials insisted on increasing the price of electricity and petrol while the government could not afford to increase the price of petrol and electricity at this time. Finance Minister Muftah Ismail led the delegation in the technical level talks. The economic team will brief the Prime Minister on the situation. Seventh Review talks continued in Doha from May 18 to May 25.
Sources said that the IF had agreed to all the demands of Pakistan but the release of the installment and extension of the program duration is conditional on increasing the prices of petroleum products while the sources in the finance ministry said that Will respond to IMF
