Pakistan Default Risk Surges as Ousted Khan Plans New Protests – Bloomberg

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Pakistan’s new Prime Minister Shehbaz Sharif faces a crucial few weeks when he must end fuel subsidies and convince the International Monetary Fund he’s doing enough to win a bailout, while ousted premier Imran Khan threatens new protests amid soaring inflation.
A fuel-price review is due May 15 and the leader faces a “very difficult” decision on raising prices of gasoline and diesel, Ishaq Dar, a senior leader of Sharif’s party, told reporters Monday. Meanwhile Khan — who as premier had capped pump prices until June by providing a subsidy of more than 300 billion rupees ($1.6 billion) — has warned he will lead two million people to march on the capital to demand new elections immediately.


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