Electricity Prices likely to be increased yet again

Electricity Prices likely to be increased yet again
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ISLAMABAD - Finance Minister Asad Umar on Wednesday hinted at further hiking power tariffs.

While briefing Senate Standing Committee on Finance, Asad Umar accused previous government of Pakistan Muslim League Nawaz (PML-N) of using power tariffs for political purpose.

He further stated that national exchequer suffered a mammoth deficit of Rs450 bln whereas power distributing companies suffered a whooping loss of Rs150 bln in PML-N’s tenure.

He added that inflation would increase in the upcoming months due to increase in prices of electricity, gas and oil. He further revealed that differences with International Monetary Fund (IMF) had been curbed whereas negotiations were underway for a bailout package.

Economy