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Pakistan Raises Fuel Prices to Meet Key IMF Loan Condition

  • IMF scheduled to release $3 billion to Pakistan this year
  • Pakistan’s rupee is worst performer in Asia amid loan delay
An attendant fills up a vehicle with gasoline at a gas station in Islamabad, Pakistan.

An attendant fills up a vehicle with gasoline at a gas station in Islamabad, Pakistan.

Photographer: Asad Zaidi/Bloomberg
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Pakistan’s government increased local fuel prices from Friday to meet a key condition set by the International Monetary Fund for reviving its bailout program.

Prime Minister Shehbaz Sharif’s administration raised the cost of gasoline and diesel by 30 rupees a liter each, finance minister Miftah Ismail said in a Twitter post. The decision comes a day after the two sides ended week-long talks without reaching an agreement to revive the stalled loan.