He said the money will be spent on “additional payments” to pensioners and families with children and conducting a “special operation” in Ukraine, referring to Moscow’s offensive in the pro-Western country.
Economy
The government would immediately provide Rs2,000 for around 85 million people to help them fight the effects of inflation.
ISLAMABAD: Pakistan and the IMF have worked out modalities for the release of $900 million next tranche once Pakistan removes…
Iran’s Ports and Maritime Organization said the tanker had sought refuge along Greece’s coast after experiencing technical problems and poor weather, and the seizure of its cargo was “a clear example of piracy.”
Resumption of IMF loan would further bolster economic stability in the country in 2022
The decision of hike in petroleum products was taken in light of the IMF guidelines as the lender insisted removal of petroleum subsidies to revive the much-needed programme for Pakistan
Finance Minister Miftah Ismail said the government has decided to increase the price of petrol, diesel, kerosene oil, and light diesel by Rs30, effectively from May 27 (midnight of May 26).
IMF mission’s chief noted that on the fiscal side, there were deviations from the policies agreed upon in the last review, partly reflecting the fuel and power subsidies announced by the authorities in February.