ISLAMABAD The government is anticipated to announce on Friday a 16 rupee drop in the price of fuel products starting on October 1.
The Oil Companies Advisory Council, according to details, has prepared working papers, in which the price of high-speed diesel is likely to decrease by Rs 16.61 per litre and the price of gasoline by Rs 7.24 per litre, adding that kerosene oil may be cheaper by Rs 14.20 and light diesel by Rs 10.87 per litre.
The document also said that the price of petroleum products right out of the refinery had gone down a lot in the last two weeks.
Nevertheless, the Ministry of Finance will publish the exact pricing this evening (Friday).
On the other hand, the government’s commitment to implementing the reforms envisioned under the IMF programme has been confirmed by Finance Minister Ishaq Dar.
In a virtual conversation on Thursday with Nathan Porter, the head of the IMF’s mission, he said that the government would take steps to help the economy while protecting the most vulnerable people.
He said that the goal of the government is to fix structural problems so that the country can get rid of its budget deficit and move toward steady growth.
The Finance Minister brought up the recent meeting between Prime Minister Shehbaz Sharif and the IMF Managing Director, during which the latter promised to support Pakistan in this challenging situation brought on by the flash floods and reassess the programme requirements.
At the event, the IMF Mission Chief talked about the country’s economic problems and congratulated the Finance Minister on taking over the Finance Ministry. He also explained how the IMF sees the problems.
A meeting between the MD of the IMF and the Prime Minister of Pakistan was also mentioned, along with the IMF’s support for Pakistan in its hour of need.
The head of the IMF mission also spoke about how foreign lenders may help the nation lessen the impact of flash floods. The Finance Minister thanked the IMF Mission Chief for the help the organisation gave when the world economy was in trouble.
