IMF rejects Finance Ministry’s Gas Circular Debt Management Plan
IMF has reiterated demand for a moratorium on gas management plan and demanded government of Pakistan to sell domestic gas at a rate close to international market rate
The International Financial Institution (IMF) has rejected the government of Pakistan’s circular debt management plan for the gas sector. Finance Minister Ishaq Dar will hold an important meeting on the plan again on February 8.
According to the sources of the Ministry of Petroleum, Pakistan and the IMF have not been able to agree on the circular debt for the gas sector and the circular debt management plan of the government of Pakistan for the gas sector was rejected by the IMF in the policy talks held on February 7. have done. In this regard, the government of Pakistan’s request for concessional rates for poor and small gas consumers has also been rejected.
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The IMF has opposed setting subsidized gas rates for gas consumers. The strategy of the Government of Pakistan to maintain subsidized gas rates for the export sector has also been rejected and the IMF has demanded to end the supply of gas at subsidized rates for the export sector.
The IMF has reiterated the demand for a moratorium on the gas management plan and demanded the government of Pakistan sell domestic gas at a rate close to the international market rate.
Losses in the gas sector should be eliminated immediately. Immediate recovery from defaulters in the gas sector. Ogra decisions for gas rates should be implemented within 40 days.
