Business
Pakistan assures IMF it will remove all subsidies on gasoline, electricity
August 16, 2022
21:53
ISLAMABAD (Dunya News) – Pakistan has assured the International Monetary Fund (IMF) to remove all subsidies on gasoline and electricity.
Dunya News received a copy of letter of Intention (Lol) between Pakistan and the IMF, in Lol, Pakistan assured the IMF of implementation of the twenty-seven point action plan.
In a letter of The IMF was given assurances that the cost of in dollar will be market based and Pakistan will cancel all subsidies on gasoline and electricity, and prices will rise gradually.
The IMF has been informed that Pakistan will increase basic tariffs for electricity and gas, as well as to implement the Anti-Money Laundering Framework in accordance with the FATF condition, while government will review ban on imported goods in January 2023.
It was further assured that governance and transparency systems would be put in place in place in unprofitable institutions, monitoring and payment systems improved control revolving credit.
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