Pakistan to seek IMF relief on furnace oil carbon levy amid Gulf crisis

Pakistan may approach the International Monetary Fund (IMF) for relief on a carbon levy imposed on furnace oil, as the government scrambles to secure energy supplies amid escalating Gulf conflict. In an interview to Aaj News programme News Insight with Amir Zia on Tuesday, Federal Minister for Petroleum Ali Pervaiz Malik said the prime minister has directed the finance ministry to engage the IMF on suspending the carbon levy introduced under the Fund’s Resilience and Sustainability Facility (RSF), arguing that the country may need to use furnace oil domestically instead of exporting it during the ongoing crisis. “When the world is scrambling for fuel, and we are forced to export furnace oil because of the carbon levy, why not explore using it locally?” Malik said in an interview.