IMF combing ‘every book, every subsidy’ during negotiations: PM Shehbaz

Prime Minister Shehbaz Sharif on Sunday reiterated that the country was facing substantial financial challenges, with the International Monetary Fund (IMF) “combing every book” during the ongoing negotiations over the ninth review of the $7 billion loan programme. The IMF delegation, headed by Nathan Porter, and the government began the make-or-break discussions last week. Pakistan needs to complete the review to stave off default. Subsequently, the government had increased liq­u­efied petroleum gas (LPG) price by 30 per cent and finalised a minimum of Rs6 per unit average increase in electricity rates between now and August. Over the weekend, the premier said the IMF delegation was giving a “very tough time” to Finance Minister Ishaq Dar and his team. Addressing the Azad Jammu and Kashmir (AJK) Assembly on the occasion of Kashmir Solidarity Day in Muzaffarabad today, PM Shehbaz again said that the Fund was scrutinising the records of various ministries and reviewing “everything” and “every subsidy”.