IMF raises reservations on petrol subsidy scheme

ISLAMABAD: The International Monetary Fund (IMF) has raised reservations on the petrol subsidy scheme announced by Prime Minister Shehbaz Sharif, ARY News reported.

International Monetary Fund (IMF) resident representative Esther Pérez Ruiz has the government of Pakistan has not consulted with the fund on the petrol subsidy scheme.

“The IMF is seeking more details about the scheme from Pakistan.” Esther Pérez Ruiz said the IMF has already rejected unfunded and untargeted subsidies.

The IMF official said Pakistan has made much progress in the revival of the stalled loan programme.

Last week, Prime Minister (PM) Shehbaz Sharif said low income poor people would be given a subsidy of Rs 50 per litre on fuel under petroleum relief package.

While chairing a review meeting on the relief package in Islamabad, the prime minister said the petroleum relief will be given to low income consumers who have motorcycles, rickshaws, 800 cc cars and other small cars.

He said the programme of petroleum subsidy would be started soon and a comprehensive strategy would be formed with the cooperation of relevant departments for effective implementation of the subsidy programme.