The most tough conditions of the IMF included the approval of mini-budget and SBP amendment bill 2021 from the parliament and monthly increase of Rs 4/liter in petroleum levy till the time the levy hits Rs30/liter and withdrawal of more than 350 billion worth subsidies.
Economy
The net electricity supplied to Discos in December 2021 was 8,529.91 GWh with average rate of Rs 8.6573/unit, having total value of Rs 73.84 billion.
According to the Consumer Price Index (CPI), inflation in urban areas climbed by 13.0 percent annually in January 2022, compared to a rise of 12.7 percent the previous month.
IMF board to hold its meeting on Feb 2 as Pakistan fulfils all upfront conditions along with approval of the SBP (Amendment) Bill today
The real estate sector seeks property valuation to be determined by the provinces in their respective regions. However, the World Bank’s $400 million loan under the Pakistan Raises Revenues initiative includes a requirement that the FBR’s valuation rates be updated to reflect market rates.
The gross foreign loan disbursements during July-December period of 2021-22 amounted to $9.3 billion while the government received $1.1 billion in foreign loans from the overseas Pakistanis through the Naya Pakistan Certificates
This stunning growth in the crude oil price in global markets is an indicator of further hike in domestic fuel prices in the days ahead.
Earlier, the IMF board was scheduled to meet on January 28, 2022 to discuss sixth review of Pakistan.