Tag: subsidy
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IMF urges Punjab to end electricity subsidy, imposes more conditions
The International Monetary Fund (IMF) has put forward at least three strict conditions in Pakistan after the Punjab province gave Rs45 to Rs90 billion in electricity subsidies for two months. Last month, President of Pakistan Muslim League-Nawaz Muhammad Nawaz Sharif announced that Punjab government would provide relief of fourteen rupees per unit to consumers using…
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IMF declines request for tariff adjustment and subsidy on high electricity bills
In light of the government’s comprehensive deliberation on strategies to alleviate the burden of electricity bills, the International Monetary Fund (IMF) has declined the proposal for tariff adjustments or additional subsidies.
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IMF demands approval for subsidies as Pakistan struggles to secure tranche
Pakistan has been negotiating an agreement with the International Monetary Fund (IMF) since January 2023. The IMF has specified that Pakistan must receive prior approval before providing any additional subsidies. Negotiations have hit a snag over a plan announced by Prime Minister Shehbaz Sharif in March to charge wealthy fuel consumers more to subsidise prices…
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Pakistan did not consult IMF regarding discounted petrol for low-income people: Esther Perez
According to the International Monetary Fund (IMF), Pakistan’s government did not seek advice from the multilateral lender regarding the discounted petrol for the low-income group. The government’s plan to increase fuel costs for more affluent drivers to pay for a subsidy for those with lower incomes, according to Esther Perez, the IMF’s resident representative for…
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Govt announces Rs50 per litre petrol subsidy for low-income individuals
The government has announced a relief package for low-income individuals in the form of a petroleum subsidy worth Rs50 per litre. This announcement was made during a meeting chaired by Prime Minister (PM) Muhammad Shehbaz Sharif on Sunday. The Prime Minister directed that consumers using small vehicles such as motorcycles, rickshaws, and 800-CC vehicles will…
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Govt raises ghee price by Rs75 per kg, sugar by Rs19 per kg
The government-run Utility Store Corporation (USC) has increased the price of sugar, flour, ghee, and other food items despite the prime minister’s relief package.
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IMF asks Pakistan to reduce expenses before loan talks
The International Monetary Fund (IMF) has asked Pakistan to reduce expenses before talks on the ninth review of a $7 billion loan programme. Discussions between Pakistan and the IMF are still underway, but no party has reached a broad agreement on a revised macroeconomic framework for the current fiscal year. According to The News, the ninth review’s…
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Pakistan Railways paying Rs35 billion pension to unverified employees annually
About 115,000 Pakistan Railways (PR) retired employees who have not been verified have been receiving annual pensions totaling Rs35 billion, according to research by the government-funded Pakistan Institute of Development Economics (PIDE), a think tank housed within the Planning Commission. It revealed in a statement yesterday that between 2015 and 2020, Pakistan Railways lost Rs144…
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Govt announces Rs3 billion subsidy to provide ghee at discounted rate
The Minister for Information and Broadcasting Marriyum Aurangzeb announced on Monday that the government would provide a Rs3 billion subsidy to lower the price of ghee to assist the masses. She told a press conference that the market price of ghee is currently Rs550 per kg, but it is being sold at Rs300 per kg…
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Energy sector to get a massive portion of the Rs699 billion subsidy
The government has proposed allocating Rs699 billion to multiple sectors in order to provide relief to the masses during the new fiscal year 2022-23. According to budget estimates, the government plans to boost subsidies by Rs17 billion to Rs699 billion for the next fiscal year, up from Rs682 billion in the previous fiscal year. The…