Pakistan raises fuel prices to meet key condition for IMF bailout

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 after talks with the multilateral lender ended inconclusively the day before. Markets gained. 

Pakistan 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.  

Imran Khan said in a series of tweets that the fuel price hike was the highest in the country’s history and