Aurangzeb discusses targeted fuel subsidies in meeting with senior IMF official
Finance Minister Muhammad Aurangzeb met International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke in Bangkok on Wednesday, with their discussion covering targeted fuel subsidies among other matters. Aurangzeb “outlined targeted fuel subsidies to protect vulnerable groups and preserve social cohesion” during the meeting, a statement issued by the finance ministry said. The government…
Finance Minister Muhammad Aurangzeb met International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke in Bangkok to discuss targeted fuel subsidies, among other matters. During the meeting, Aurangzeb outlined plans to protect vulnerable groups and preserve social cohesion through subsidies for motorcycles, autos, and vehicles up to 800cc.
Pakistan is currently engaged in negotiations for a $7 billion Extended Fund Facility (EFF) and $1.4 billion Resilience and Sustainability Facility (RSF) with the IMF, and recently reached a staff-level agreement that allows the country to draw about $1.2 billion from these funds. The IMF has called on countries to offer narrow, targeted subsidies amid the energy crunch caused by the US-Israeli war on Iran.
Brief written by urgent.news from Dawn's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
