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IMF Criticises Pakistani Government for announcing Petrol Subsidy without Consulting Global Lender

Esther Perez, the resident representative for Pakistan at the International Monetary Fund (IMF), stated that the Pakistani government did not consult with the global lender regarding its petrol subsidy for low-income groups.

According to Perez, the government did not discuss its plan to increase fuel prices for affluent motorists to fund a subsidy for lower-income individuals with the IMF.

She added that IMF staff is currently gathering more information about the program’s operation, cost, targeting, protections against fraud and abuse, and offsetting measures.

These details will be discussed with the authorities in Pakistan.

Earlier, Govt Announced Fuel Package Relief For Low-Income Families.

Govt Announced Fuel Subsidy For Low-Income Families

Prime Minister Shehbaz Sharif announced that the government would subsidise Rs50 per litre to low-income segments under the petroleum relief package.

The government had recently raised the prices of all petroleum products, except for little light diesel oil, by up to Rs13 per litre for the next fortnight.

The finance ministry attributed the increase to the rise in Platts Singapore prices and the rupee depreciation over the previous fortnight.

As a result of the latest review, high-speed diesel (HSD) prices reached a new record of Rs293 per litre, directly impacting consumer prices due to increased transport costs.

The government raised the per-litre price of petrol by Rs5 and HSD by Rs13.

The prices of HSD and petrol increased by Rs65 and Rs62 per litre, respectively, Since January 15.

During a meeting in Lahore on Sunday, PM Shehbaz announced that the petroleum relief would benefit low-income consumers who own motorcycles, rickshaws, 800cc cars, and other small vehicles.

Furthermore, The prime minister stated that the petroleum subsidy program would commence soon and relevant departments would collaborate to develop a comprehensive strategy for its efficient execution.

Also, He emphasized that low-income segments use motorcycles, rickshaws, and small cars, and the subsidy would provide relief to them.

Pavan Manzoor
Written By

Pavan Manzoor is an experienced content writer , editor and social media handler along with a track record of youth-oriented activities in Pakistan and abroad. She was selected as a fully-funded delegate as a leadership fellow in Turkey. She also led a team of 5 volunteers at the week-long Young Professionals Fellowship in Maldives. She is also a member of the Youth Standing Committee on Higher Education.

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