The federal government has assured the International Monetary Fund (IMF) team of a hike in the power tariff.
The government will allegedly hike the cost of electricity by Rs 6.79 per unit over the course of the next five months.
The power division gave the IMF team a briefing on the strategy for reducing the circular debt by raising electricity prices and reducing line losses and theft of power.
Under a monthly adjustment, the power rate will rise in the current month by up to Rs 4.46 per unit. The price will rise by Rs 3.21 per unit in February. The price of electricity will rise by Rs..69 and Rs. 1.64 per unit in March and June, respectively.
IMF asks Pakistan to jack up power gas tariff for the revival of programme
Talks on the ninth review of the $7 billion Extended Fund Facility have already started between Pakistan and the International Monetary Fund (IMF) (EFF).
The International Monetary Fund (IMF) provided lists of necessary steps and made it clear to Pakistani officials that Islamabad must take action to meet all requirements in order to restart the halted Fund programme.
The IMF has requested that Pakistan take all necessary steps to enable the signing of a staff-level agreement and the release of a $1 billion tranche under the Extended Fund Facility (EFF).
