The federal government, led by Shehbaz Sharif, is preparing to increase the petroleum levy on petrol and diesel by Rs. 5 per litre as part of revenue measures ahead of a staff-level agreement with the International Monetary Fund.
Sources told ProPakistani that the IMF is expected to announce a staff-level agreement in the coming days after sharing the draft Memorandum of Economic and Financial Policies with Pakistani authorities.
Once finalized, the agreement will be signed by the finance minister and the State Bank governor, paving the way for the release of a $1.2 billion tranche.
The proposed fuel levy hike is part of broader efforts to boost both tax and non-tax revenues. In addition, the government has cut around Rs100 billion from the development budget in consultation with the IMF.
Discussions with the IMF have also covered plans to address circular debt in the power and gas sectors, along with the economic impact of rising global oil and fertilizer prices and ongoing regional tensions.
At the same time, the government is considering measures to support the real estate sector, including possible tax reductions on property transactions and incentives to attract investment from overseas Pakistanis.
A concessional housing scheme has already been approved as part of these efforts.
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