Pakistan News: In a final move before the upcoming elections, Pakistan's interim cabinet has approved the restructuring of the financially troubled national carrier,
Pakistan s caretaker government has reduced the rates of petrol and high-speed diesel (HSD) by PKR 14 and PKR 13.5 per litre respectively. The prices of kerosene oil and light-diesel oil were also reduced. The international prices of both oils had declined by almost five per cent, resulting in a drop in domestic prices. The State Bank reported an increase in foreign exchange reserves by $21 million. The government aims to collect over PKR 950 billion as petroleum levy by June.
Its caretaker government is diligently implementing the terms of the current loan package, which would ease the way for an elected government to negotiate for more.