Govt increases petrol price by Rs 30 per litre

Pakistan to reduce petrol subsidy after talks with IMF

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ISLAMABAD: During talks with the International Monetary Fund (IMF) in Doha on Friday, Pakistan presented their plan to reduce subsidies on gasoline prices.

In talks with the International Monetary Fund, Pakistan has floated plans to raise gasoline prices, along with proposals to limit gasoline subsidies for the poor, according to people familiar with the matter. During the talks, the issue of reducing power losses was discussed. A phased approach to increasing electricity prices is also discussed.

The IMF and government delegation also held detailed discussions on the current account deficit and budget. Pakistan also presented plans to reduce spending, and delegations from both sides made recommendations on unnecessary spending. The review of development budget priorities was also discussed.

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