IMF asks Pakistan to 'immediately raise' gas tariff.

ISLAMABAD -- The International Monetary Fund (IMF) has asked Pakistan to 'immediately raise' gas tariff, media reported on Thursday, quoting sources within the finance ministry.

The IMF is seeking 100pc 'rise' in the gas tariff to minimize the losses and circular debt in Pakistan's gas sector.

The international lender showing concerns about not increasing the gas tariff from July 1 during a virtual meeting with the Pakistan finance ministry officials, demanded the caretaker government of Pakistan to immediately approve the hike in gas tariff, the source claimed.

They further said IMF asked the Pakistan finance ministry that denying the increase in gas tariff is a 'violation' of the Standby Agreement.

IMF has suggested for recovery of Rs46 billion loss of gas companies from July to September. During the talks, the IMF officials were informed that caretaker Finance Minister Dr Shamshad Akhtar is in China.

The minister will return to Pakistan today, the sources said.

In this context, the Economic...

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