ISLAMABAD – Federal budget for the next fiscal year is under discussion inthe National Assembly and finance bill is yet to be tabled but NationalElectric Power Regulatory Authority has allowed the Power DistributionCompanies a uniform increase of Rs.150 in electricity tariff.
It is one of the tough conditions included in the staff level InternationalMonetary Fund (IMF) agreement for the frontloaded loan programme of $ 6billion.
This increase in power tariff is aimed at recovering Rs. 190 billion fromelectricity consumers within a period of 15 months to reduce the circulardebt.
The prices of petroleum products have already been increased and gas tariffjacked.
After the critical comments of a senior official of President Trumpadministration the international credit rating agencies see risks to theIMF programme.
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Fetch has not improved Pakistan rating from B negative despite the stafflevel agreement with the Washington based multilateral lending agency.
The IMF Executive Board will take up Pakistan’s bail out request in itsmeeting scheduled for 3rd July.
