Pakistan government to fulfill yet another demand of IMF
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In Islamabad, there are reports that the caretaker government is set to announce a gas price increase in response to the IMF's request, as per sources reported by ARY News on Monday. The previous government, led by the PDM, had postponed the decision to raise gas prices.
The International Monetary Fund (IMF) has insisted on a 45 percent increase in gas prices in the country. According to sources, the IMF has called for generating 435 billion rupees in revenue through this gas rate increase and has shown little flexibility in its demand.
Sources have indicated that the government has devised a strategy to shield small gas consumers from the price hike, aiming to spare 64 percent of gas consumers from the increase. The government is expected to officially announce a 45 percent hike in gas rates in the near future.
Sources suggest that gas consumers will need to settle their arrears from July to September bills, and the higher tariff will also apply to domestic consumers with increased gas consumption. Commercial consumers, including bakeries and hotels, are likely to experience an increase in gas rates. Industrial consumers, CNG stations, fertilizer factories, and the steel industry may also face higher gas costs.
The IMF's demand includes raising the gas tariff by 45 to 50 percent under 'Fuel Adjustment Charges', while emphasizing the need for a crackdown on electricity and gas theft to enhance revenue recovery.
