ISLAMABAD: Minister of Finance Ishaq Dar announced an increase of Rs35 in prices of petrol and diesel, that will be applied from today,
While briefing to media the Ishaq dar said: there is a Speculation was rife on social media regarding increases of Rs50 prices of petrol, Diesel .” This viral step influence the market that’s made an artificial shortages”
Pakistan was expected to announce a massive increase in petroleum prices in order to meet the conditions set by the International Monetary Fund (IMF).
PM Shehbaz Sharif said he was hopeful by the crucial International Monetary Fund programme that would resume “this month”, In a statement comes after the lender confirmed that they will arrive in Pakistan on end of Jan.
A statement comes By IMF, He said
Program to visit Pakistan from Jan 31 to Feb 9 for the 9th review talk under the Extended Fund Facility (EFF).
This was confirmed by IMF Resident Representative Esther Perez Ruiz to Business Recorder on Thursday, a day when the rupee also plunged nearly 10% against the US dollar in the inter-bank market. Then rupee depreciates another 2.7%.
While the IMF official said, this program will focus on policies to restore domestic and external sustainability in the country, also that including strengthening the fiscal position with reliable and supporting high-quality measures
Meanwhile, victims and those affecties of floods in Pakistan tries to restore the power sector also reverse accumulation of circular debt; and reestablish the valuable functioning of forex market this will Allowing the exchanges rate to clear FX shortage.
A desperately in Pakistan looking to convince the lender to resume its bailout , as foreign exchange reserves in the country held by the State Bank of Pakistan dropped a Surprisingly $923 million to $3.7 bln released data showed.
