ISLAMABAD, August 16: Pakistan has assured the IMF that the value of the dollar will be market-based, Pakistan will end all subsidies on oil and electricity.
A copy of the Letter of Intent between Pakistan and the International Monetary Fund (IMF) was received by Dunya News.
In the Letter of Intent to the IMF, it has been assured that the value of the dollar will be market-based, Pakistan will end all subsidies on oil and electricity, Development Levy on petroleum products on the condition of the IMF. Rate will be increased gradually. The IMM has been told that Pakistan will increase basic electricity rates and gas rates, implement the Anti-Money Laundering Framework as per FATF terms, and review the import ban in January 2023. It will be possible after seeing the situation. The IMF has been assured that governance and transparency systems will be put in place in loss-making institutions, monitoring and payment systems will be improved to control revolving credit.-SABAH
Will remove all subsidies on oil and electricity: Pakistan’s assurance to the IMF
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