IMF 'rejects' govt's proposed subsidised petrol scheme
Business
The global lender has asked the coalition government for a complete petrol scheme plan
ISLAMABAD (Web Desk) - The International Monetary Fund (IMF) has reportedly rejected the government's proposal to provide cheap petrol to motorcycles and vehicles below 800cc.
Sources claimed the global lender strongly objected to the government's scheme of cheap petrol for motorcycles and vehicles below 800 cc.
The IMF raised the question that how much subsidy will be required for this scheme? Where will it come from and how many consumers will it have? How much will be the loss in the scheme?
The IMF has asked the government to share a complete plan in this regard, sources added.
Sources further said there had been a virtual communication between Pakistan and the IMF, in which the latter insisted on developing a revised subsidy plan on petrol for the poor.
