IMF rejects initial proposal of subsidy on petrol

Islamabad: The International Monetary Fund (IMF) Wednesday rejected the initial proposal of the proposed subsidy on petrol, GNN reported.

According to details, IMF has strongly objected to the government's scheme of inexpensive petrol for motorcycles and vehicles below 800 CC.

Reportedly, IMF has asked government to present a complete plan in this regard that would address the concerns that how much subsidy will be required for this scheme? Where will it come from and how many consumers will it have? How much will be the loss in the scheme? IMF

IMF has insisted on developing a revised subsidy plan on petrol, pushing for more effective targeted subsidies to the poor.