The fiscal and IMF lens
Any reduction in cross-subsidies raises a legitimate question: who absorbs the cost. Whether through reallocation across consumer categories or explicit budget support, the fiscal math must hold—especially under Pakistan’s ongoing engagement with the International Monetary Fund.
If this reform is to be durable, transparency will matter more than rhetoric. Export competitiveness cannot be rebuilt on hidden distortions without reintroducing pressure elsewhere in the system.
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