The International Monetary Fund (IMF) has provided a list of required actions and made it clear to Pakistani authorities that Islamabad must proceed with fulfilling all requirements in order for the Fund program to resume, which has been delayed.
In order to facilitate the signing of a staff-level agreement and the release of a $1 billion tranche under the Extended Fund Facility (EFF), the IMF has asked Pakistan to take all necessary actions.
The IMF has reportedly asked Pakistan for a plan to raise Rs 855 through a gasoline charge by June 30, 2023, according to the sources. The Pakistani government must raise the price of diesel by Rs 15 per liter, or to Rs 50 per liter.
The sources claim that in order to resume the halted loan program, the IMF has also demanded the payment of the circular debt in the gas industry. The sources also claimed that in order to pay off the debt, Pakistan would have to increase gas prices by up to 74%.
Additionally, Pakistan has been told to take steps to raise the price of basic electricity and increase tax revenue by Rs 300 billion.
It has also been learned that the IMF wants Pakistan to end the “artificial ban” on the dollar exchange rate.
Ishaq Dar, the minister of finance, is reportedly also worried about the IMF’s “strong position.”