Pakistan’s initial proposal for fuel subsidies has been turned down by the IMF.

According to reports, the International Monetary Fund (IMF) has rejected Pakistan’s initial request for a fuel subsidy.

Officials at the Ministry of Finance have reportedly stated that the International Monetary Fund (IMF) has asked for a detailed plan for fuel subsidies from the government. The IMF has specifically requested a comprehensive scheme for a subsidy of 50 rupees per litre on petroleum, according to these officials.

Pakistan has reportedly been in virtual communication with the IMF, which has requested that a new fuel subsidy plan be developed. Insiders suggest that the government had initially proposed providing gasoline subsidies for owners of motorcycles and small 800 CC vehicles. However, the IMF has requested a more comprehensive scheme that includes a subsidy of 50 rupees per liter on petroleum.

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