ISLAMABAD – The International Monetary Fund (IMF) gave approval to reduce the electricity tariff, the sources close to the development said on Thursday.
“The IMF has allowed to reduce Rs1 per unit in the electricity tariffs,” the IMF was quoted as saying. The international lender gave this approval in a bid to provide relief to the consumers.
This relief would be provided from the revenue obtained through the levy on captive power plants. A levy was imposed on the use of gas by captive power plants.
The federal government is also working on a relief package for electricity consumers, which will be announced after IMF approval.
It may be mentioned here that Pakistan and the International Monetary Fund (IMF) had reached a staff-level agreement, under which Pakistan gained access to up to one billion dollars under the Extended Fund Facility (EFF).
The IMF had mentioned that inflation in Pakistan is at its lowest level since 2015, the country’s economic situation has improved, and further improvement is expected.
Under this program, the total amount Pakistan will receive will be 2 billion dollars.
IMF, Pakistan reach staff-level agreement for $2.3 billion funding
