Federal Minister for Finance and Revenue Miftah Ismail has given indication to scale up the prices of fuel as he is stated to have agreed with IMF recommendations to reduce fuel subsidies.
Finance Minister Miftah Ismail met with IMF Executive board in Washington. 7th review of bail out package for Pakistan came under discussion in the meeting.
IMF stressed on withdrawal of subsidies on petroleum products in Pakistan.
Finance Minister Miftah Ismail agreed with IMF on removing the subsidies.
Addressing a ceremony he told IMF has stressed on not allowing subsidies on petroleum products. We have agreed with IMF for curtailing subsidies. Government cannot afford these subsidies.
Finance Minister Miftah Ismail, who took office this month after a previous government lost a no-confidence vote, said he had “good discussions” with the IMF on a visit during the Washington-based lender s annual spring meetings.
“They ve talked about removing the subsidy on fuel. I agree with them,” Ismail, himself a former International Monetary Fund economist, said at the Atlantic Council.
