Pakistan removed fuel subsidies

Pakistan removed fuel subsidies
# 16 June 2022 09:01 (UTC +04:00)

Pakistan on Wednesday further removed fuel subsidies in a bid to trim the fiscal deficit and aimed at securing critical support from the International Monetary Fund (IMF), the finance ministry said, APA reports citing Reuters.

“Government has decided to end subsidies on fuel and raise prices starting midnight” Finance Minister Miftah Ismail told reporters at a press conference.

This is the third cut in fuel subsidies since May 26. Since May 26, diesel fuel, kerosene and gasoline have risen in price by 83, 56 and 73%, respectively.

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THE OPERATION IS BEING PERFORMED