WASHINGTON, April 24 — Pakistan’s new finance minister on Friday agreed with IMF recommendations to reduce fuel subsidies, pledging to pursue structural reforms to boost a crisis-wracked economy.
Finance Minister Miftah Ismail, who took office this month after a previous government lost a no-confidence vote, said he had “good discussions” with the IMF on a visit during the Washington-based lender’s annual spring meetings. “We can’t afford to do the subsidies that we’re doing. So we’re going to have to curtail this,” he said.
Ismail, however, said that some targeted subsidies should remain for Pakistan’s poorest amid sky-high global prices.
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