Pakistan, July 31 -- Pakistan's Petroleum Minister Ali Pervaiz Malik has said the International Monetary Fund (IMF) is unlikely to approve any reduction in the petroleum levy unless the government identifies an alternative source of revenue to compensate for the resulting loss.

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Speaking at a meeting of the Senate Standing Committee on Petroleum, Malik explained that the petroleum levy on petrol and diesel is already lower than the level imposed during wartime. He noted that while the IMF could consider a reduction, any such move would require a credible plan to replace the lost revenue.

The minister's remarks came during discussions in which lawmakers questioned the governme...