IMF ‘dissatisfied’ with Ishaq Dar, seeks increase in petroleum levy

Dissatisfied’ with Finance Minister Ishaq Dar, the International Monetary Fund (IMF) has asked Pakistan to jack up the levy on diesel.

The IMF has expressed ‘dissatisfaction’ over the policies of Ishaq Dar and presented more demands in front of Pakistan for the continuation of the current $7bn Extended Fund Facility (EFF) programme.

According to sources with knowledge of the situation, the IMF advised Pakistan to raise the diesel tax in January and February as a result of which the government decided not to give the general public "full" respite from the drop in diesel prices on the international market.

According to other sources, Pakistan and the IMF have agreed to raise the Rs 50 petroleum levy.

The finance ministry sources said the levy on petroleum will be increased by Rs20 until February 2023.

PM Shehbaz says govt to complete current IMF programme

Meanwhile, Prime Minister (PM) Shehbaz Sharif expressed the government’s resolve to complete the current $7bn Extended Fund Facility (EFF) programme with the International Monetary Fund.

According to details, the prime minister made remarks about the country's economic situation while sitting at a high-level meeting in the Prime Minister's House.

The meeting was attended by Finance Minister Ishaq Dar, Planning Minister Ahsan Iqbal, Defence Minister Khawaja Asif, Governor State Bank of Pakistan (SBP), and other relevant authorities.