Pakistan’s economy: Pakistan will cut huge subsidies on energy and electricity

Islamabad, Pakistan is ready to take immediate steps to reduce its energy and electricity subsidies and ban about 30 luxury imports under a pledge made to the International Monetary Fund (IMF) to secure an economic bailout.

On the first day of formal talks with the Nathan Porter-led IMF mission in Doha, Pakistan’s finance minister Miftah Ismail, who is actually leading the country’s economic party, clarified the uncertainty about two things – that the new coalition government will remain in office and take tough decisions. , Undertaking reforms committed to the core funding program and adopting full structural standards.

Informed sources said the talks started on a healthy note as both sides agreed on key principles – separating the state’s economic decision-making from politics.

The sources said the government would revise fuel and fuel prices in a few days and impose a complete ban instead of raising tariffs, a total of about 30 luxury items, including major vehicles and mobile phones. Imports and thus contains external accounts. The announcements will be made soon to move the discussion towards a successful completion of the revised program, Dawn said.

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