ISLAMABAD: The government has asked the International Monetary Fund (IMF) for a one-year extension of the ongoing program, as well as an enhancement of the remaining financing. According to sources who were part of the government delegation in Washington DC, the fund has agreed “in principle”. For its part, the IMF has asked for a removal of the fuel price caps imposed by the former government. “They want us to minimise the deviation and make up for some of the subsidy and deviation,” the source tells Profit. This suggests the budget is likely to be presented earlier than usual, most likely by the middle of May to conclude the staff-level agreement.

Source: The Nation April 25, 2022 05:25 UTC