Pakistan hikes fuel prices to meet IMF loan conditions

Summary by Ground News

Prices will rise by 20% starting Friday, causing long lines at filling stations. The price hike has been the main issue between Pakistan and the IMF as part of an agreement to withdraw subsidies. The IMF has said that a considerable progress had been made in the talks, but emphasized the urgency of removing subsidies.

2 months ago·Pakistan

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Times of India

Pakistan: Shehbaz Sharif govt hikes fuel prices by 30 PKR per litre to unlock IMF funding

In a surprise move, the Pakistan government increased the rate of petroleum products by 30 PKR per litre, or up to one-fourth of their existing prices, paving the way for reaching a staff-level agreement with the International Monetary Fund (IMF) by June 12. The unprecedented decision will help defuse the landmines laid by the government of former Prime Minister Imran Khan on the one hand, and will save the country from looming default on the ot…

2 months ago·Mumbai, India

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Hindustan Times

Bailout hopes from IMF forces Pakistan to hike fuel prices by 30 PKR

The Pakistan government hiked the cost of all petroleum products by ₹30 in local currency, the highest single-hike ever.

2 months ago·New Delhi, India

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Financial Post

Pakistan Latest: Fuel Prices Raised to Meet Major IMF Condition

(Bloomberg) -- Pakistan's government increased local fuel prices from Friday to meet a key condition set by the International Monetary Fund for reviving its bailout program after talks with the multilateral lender ended inconclusively the day before. Markets gained. Read More

2 months ago·Canada

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National Post

Pakistan hikes fuel prices to unlock IMF funding

KARACHI -- Pakistan on Thursday announced it will hike fuel prices so that it can resume receiving aid from a $6 billion package signed with the International Monetary Fund (IMF) in 2019, the country's finance minister said. Read More

2 months ago·Canada

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