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ISLAMABAD: The federal government is possibly to accept additional demand from the International Monetary Fund (IMF) to regulate the petrol prices in the country on a weekly basis.
According to sources outhouse to the decision, the decision to regulate petrol prices on a weekly basis will be permitted by the federal cabinet today. “The masses will have to face any fluctuation in fuel prices in international markets on a weekly basis,” they said.
The earlier government of the PTI changed the period of regulation in oil prices to 15 days from one month and IMF demand to regulate the petrol price weekly.
The International Monetary Fund (IMF) on Tuesday confirmed that Pakistan has attained all the set targets for the recovery of the Extended Fund Facility (EFF) programme.
Exclusively speaking to ARY News, International Monetary Fund’s (IMF) resident representative in Islamabad, Esther Perez Ruiz said Pakistan has attained all the financial targets set by the fund and the last action was consummate on July 31 by spreading the levy on petrol.
Read More: Decrease in Price of Petrol by Rs3.05 Per Litre
Ruiz said the 7th and 8th reviews have been finished and the IMF Executive Board will meet in the third week of August.
Esther Perez hoped that Pakistan will take steps to slight the funding gap till the board’s meeting.