IMF pressure: PMLN government to drastically increase fuel and electricity prices in country

IMF pressure: PMLN government to drastically increase fuel and electricity prices in country

ISLAMABAD: To revive the stalled IMF programme under the $6 billionExtended Fund Facility (EFF), the government will have to hike theelectricity tariff by Rs7.14 per unit through base price and fuel priceadjustments as well as increase the petrol prices in a gradual manner.

Owing to the fear of backlash, the government is considering hiking onlypetrol and continue giving subsidies on diesel. The government is alsoexploring options to convince the provinces to contribute by sharing theburden to absorb the fuel cost.