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ISLAMABAD: Pakistan has told the International Monetary Fund (IMF) it will not implement a fuel subsidy programme as the two sides negotiate a long-delayed $1.1 billion bailout for the country, Bloomberg News reported on Thursday.

Prime Minister Shehbaz Sharif in March proposed charging affluent consumers more for fuel, with the money raised used to subsidise prices for the poor who have been hit hard by inflation.

Govt to address IMF concerns on petroleum subsidy scheme, says Musadik

Pakistan has committed not to implement the cross-subsidy programme, an IMF spokesperson told Bloomberg. The government also will not introduce new tax exemptions and will “durably allow” a market-based exchange rate for the rupee currency, the IMF told Bloomberg.

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Tulukan Mairandi May 12, 2023 07:18am
This will lead to hyperinflation and civil strife
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Pakistani1 May 12, 2023 10:48am
Finally a wise decision for long term benefit of Pakistan.
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Muhammed May 12, 2023 12:53pm
At present there isn’t any subsidy on fuels. Instead of providing cash subsidy to 2-3 wheelers FG must introduce E-20 fuel as next door India has done.
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KU May 12, 2023 01:51pm
What about the plight of farmers and agriculture? Have the Einstiens thought about the impact of the high cost of production? Why isn't the government giving factual information on wheat yields for 2022-23? If they tell you the truth, everyone will know how high-priced diesel is devastating the food supply.
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