ISLAMABAD: Pakistan and the International Monetary Fund held virtual discussions during which the IMF reportedly urged the government to increase petrol and diesel prices immediately, according to official sources.
No Subsidy on Fuel
Sources said the IMF advised Pakistan not to provide any subsidy on petroleum products and instead pass the full impact of global price increases on to consumers.
The lender also emphasised that the government must ensure the Petroleum Development Levy (PDL) target of Rs1,468 billion by June 30 remains unaffected.
Revenue Collection Update
Officials revealed that Rs822 billion has already been collected through the petroleum levy during the first six months of the fiscal year, achieving more than 60% of the annual target between July and December.
Measures to Control Current Account Deficit
The talks also focused on potential steps to manage Pakistan’s current account deficit.
Proposals under consideration include:
Shifting schools and colleges to online classes
Introducing smart working arrangements in government offices and universities
Adjusting market and shop timings
Promoting online delivery services for groceries and restaurants
Officials said a comprehensive implementation plan will be prepared based on these recommendations.
Petroleum Supply Situation
Despite discussions on fuel pricing, sources confirmed that Pakistan’s petroleum reserves remain at satisfactory levels, ensuring stable fuel availability in the country.
