The International Monetary Fund (IMF) has refused to lend to Pakistan without making petrol more expensive.

According to sources, the IMF has refused to provide loan installments without raising the price of petroleum products.

According to sources, the installment will not be released to Pakistan without raising the price of petroleum products.

Earlier, the IMF had agreed to all the demands of Pakistan.

According to sources, Pakistan and IMF have agreed to continue talks, the Pakistani delegation has asked Prime Minister Shahbaz Sharif to respond after talks.

IMF demands removal of petrol and electricity subsidies

The IMF has issued a statement of dialogue with Pakistan, calling for the removal of subsidies on petrol and electricity.

The statement said that the forthcoming budget has also emphasized on achieving the objectives of the loan program and agreed to continue negotiations with Pakistan.

According to the statement, committed to ensuring macroeconomic stability for the benefit of all Pakistanis, very constructive talks were held with the Pakistani authorities.

The IMF statement also said that Pakistan has deviated from the policies set out in the previous review.

According to the finance ministry, talks with the IMF are set to begin next week, with finance minister Muftah Ismail returning to Pakistan from Doha tomorrow.