IMF Urges Alternative Revenue Sources if Petroleum Levy Is Cut

Meanwhile, the International Monetary Fund (IMF) has pressed Pakistan to maintain fiscal stability and take steps to reduce rising circular debt in the energy sector.

Key points

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• The Pakistani side assured the IMF that structural reforms would continue despite the ongoing Gulf war.
• Nevertheless, office-holders noted targeted subsidies have additionally been introduced to provide backing to vulnerable segments of society.
• The review covers key areas including fiscal reforms, energy sector reforms and revenue measures.

For context, the IMF mission, at present visiting Pakistan, called on Pakistani authorities to take sustained measures to strengthen fiscal stability, control the growing circular debt in the energy sector and find alternative sources of revenue if the administration reduces the petroleum levy. Electricity Cost to Rise Rs. 1.73 Per Unit.

Meanwhile, the Pakistani side assured the IMF that structural reforms would continue despite the ongoing Gulf war. Pakistani authorities additionally informed the IMF that the impact of higher fuel rates would be passed on to consumers.

Meanwhile, the IMF mission is in Pakistan to review the country's progress under the ongoing program, with successful completion of the review potentially unlocking around $1.2 billion in financing. The review covers key areas including fiscal reforms, energy sector reforms and revenue measures. Stay Connected with ProPakistani.

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In short, IMF Urges Alternative Revenue Sources if Petroleum Levy Is Cut is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.