The International Monetary Fund has rejected Pakistan’s initial proposal for subsidy on petroleum, sources said on Wednesday.
“The lending institution has demanded the complete plan of the petroleum subsidy from the government,” sources said.
“The IMF has demanded a comprehensive plan of per litre 50 rupees subsidy on petroleum,” sources at the Ministry of Finance shared.
Pakistan has been in virtual contact with the IMF and the institution has insisted for preparation of revised plan of subsidy on petroleum.
“The government had proposed subsidy on fuel for motorcycles and small 800 CC vehicle owners,” according to sources.
The International Monetary Fund is demanding of the government for an effective and targeted subsidy to the poor segment of the society, sources added.