27
May
Pakistan Hikes Fuel Prices To Meet IMF Loan Conditions 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. The resumption of the bailout will provide a much-needed relief to keep the South Asian nation’s economy afloat and avert a…