https://sputnikglobe.com/20220614/pakistans-finance-minister-warns-govt-of-inevitable-default-if-oil-subsidies-not-lifted-1096303363.html
Pakistan's Finance Minister Warns Gov't of Inevitable Default If Oil Subsidies Not Lifted
Pakistan's Finance Minister Warns Gov't of Inevitable Default If Oil Subsidies Not Lifted
Sputnik International
MOSCOW (Sputnik) - Pakistani Finance Minister Miftah Ismail has warned the government that the country will face an inevitable financial meltdown unless the... 14.06.2022, Sputnik International
2022-06-14T10:38+0000
2022-06-14T10:38+0000
2022-12-08T18:02+0000
default
oil
shehbaz sharif
pakistan
https://cdn1.img.sputnikglobe.com/img/07e5/0c/18/1091775528_0:129:3073:1857_1920x0_80_0_0_9ff1e0ce96b4e3ca1d8d5d9a7f1eff08.jpg
The minister told Pakistani broadcaster Geo TV on Monday that if Islamabad does not raise fuel prices, the International Monetary Fund (IMF) will refuse to provide Pakistan with a loan, pushing the country into financial meltdown.Pakistan struck a $6 billion deal with the IMF in 2019 but is struggling to implement policy commitments stipulated by the agreement.Pakistani Foreign Minister Bilawal Bhutto Zardari in late May called the deal "outdated" since many global crises have emerged since 2019, and the country was struggling to meet targets set by the IMF in the new realities.
pakistan
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
2022
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
default, oil, shehbaz sharif, pakistan
default, oil, shehbaz sharif, pakistan
Pakistan's Finance Minister Warns Gov't of Inevitable Default If Oil Subsidies Not Lifted
10:38 GMT 14.06.2022 (Updated: 18:02 GMT 08.12.2022) MOSCOW (Sputnik) - Pakistani Finance Minister Miftah Ismail has warned the government that the country will face an inevitable financial meltdown unless the government removes subsidies on oil products.
The minister told Pakistani broadcaster Geo TV on Monday that if Islamabad does not raise fuel prices, the International Monetary Fund (IMF) will refuse to provide Pakistan with a loan, pushing the country into financial meltdown.
"I told Prime Minister [Shehbaz Sharif] that we must make tough decisions", Ismail said.
Pakistan struck a $6 billion deal with the IMF in 2019 but is struggling to implement policy commitments stipulated by the agreement.
Pakistani Foreign Minister Bilawal Bhutto Zardari in late May called the deal "outdated" since many global crises have emerged since 2019, and the country was struggling to meet targets set by the IMF in the new realities.
