ISLAMABAD: International Monetary Fund (IMF) is awaiting clarity on petrol subsidy scheme as Pakistani authorities have not yet withdrawn proposed cross-fuel subsidy scheme in writing to Fund, reports media outlet. Scheme is being regarded as one of reasons for delay in agreement.

Lender raised objections to proposal, asking Islamabad to share details about implementation of plan that was announced without ‘consultation’. Minister of State for Petroleum Musadik Malik rejected perception that subsidy would violate conditions adding Ministry had responded to all queries in detail.

Media outlet, quoting an unnamed Finance Ministry official reported that IMF didn’t ask for withdrawal of cross-fuel subsidy in writing.

Pakistan had placed its first order for discounted Russian crude oil under new deal struck between Islamabad and Moscow, Petroleum Minister said with one cargo to dock at Karachi Port in May.

Published in The Daily National Courier, April, 28 2023

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