To revive the IMF program, the government will have to increase petrol and diesel prices by Rs 23 and Rs 55, respectively.
Informed sources said that after doubling petrol and diesel prices by Rs 30 in the last two weeks, the government is expected to completely eliminate oil subsidies before the start of the new fiscal year.
In view of current oil prices in the international market, the subsidy on petrol is Rs. 23 and on diesel Rs. 55.
OGRA will finalize the prices next week and inform the Prime Minister of its recommendations.
After the sharp rise in petrol and diesel prices by up to Rs 60 and the presentation of the budget approved by the IMF, it is generally believed that all the preconditions for the resumption of the IMF program have been met and now global institution can show the green signal at any time.