Islamabad: On April 14, it was reported that Pakistan’s new government headed by Prime Minister Shehbaz Sharif was in internal discussions on whether to take back fuel and power subsidies that had blown a hole in public finances amid a stuttering economy. “The relief package will add to the fiscal deficit which we cannot afford at the moment,” Finance Secretary Hamed Yaqoob Sheikh said. “Either it has to be rolled back or compensating reductions in other expenditures would be required to ensure that the primary balance agreed with the IMF is achieved,” he said.
