Federal government decides to drastically increase electricity prices on IMF demand
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Complying with the IMF conditions, the government has decided to raise the electricity tariff by Rs8 per unit, reported 24NewsHD TV channel.
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.
