In response to the International Monetary Fund’s (IMF) demand, the Pakistani government is going to raise petrol prices by more than 45% after raising power rates.
According to sources, the federal government and the International Monetary Fund (IMF) have discussed a plan to raise gasoline prices. According to other sources, Pakistan was instructed by the international lender not to postpone raising the gas tariff in order to lower its circular debt.
The Circular Debt Management Plan 2023 cannot be used to assess the performance of the institutions, so the Circular Debt Management Plan 2024 must be authorised by the federal cabinet by the end of July, according to the IMF.
According to sources, the new method will ensure that the massive Rs 392 billion circular debt is paid. According to reports, the IMF wants Pakistan to set a hold on the circular debt for the electricity industry at Rs 2374 billion and create a 10-year plan to pay it off. — DNA
