IMF gives a big power shock to people of Pakistan
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Complying with the IMF conditions, the government has decided to raise the electricity tariff by Rs8 per unit.
Sources informed that the IMF mission which is currently in Pakistan for the technical and policy-level talks for the release of its $1.18 billion tranche has been apprised of government’s decision to increase the electricity price.
This hike will be separate from the regular quarterly adjustment charges.
Sources said after getting approval from Prime Minister Shehbaz Sharif, the Pakistan economic team would provide new circular debt plan to the IMF mission today.
In order to bring down the circular debt, the increase in basic power tariff has become paramount, sources said adding that the government would also take measures to reduce the line losses.
The increase in gas prices is also in the pipeline.
The government is expected to announce its decision in a couple of days.
The technical talks between the Pakistan and the IMF were concluded on Monday and they are holding policy-level talks today which will be ended on February 9.
