The International Monetary Fund (IMF) has once again demanded an increase of at least Rs.5 per unit in electricity tariffs, sources familiar with the development said on Wednesday.
According to these sources, electricity may become Rs.5 per unit more expensive before July 10, as Pakistan has no other option but to obey the demand of the moneylender.
During the virtual talks, the IMF was briefed about the difficult decision and measures taken to increase gas prices.
Sources from the Ministry of Finance stated that the IMF is satisfied with the steps taken for economic improvement. Significant progress on the new loan program is expected by the end of this month.
Pre-emptive actions related to the increase in electricity tariffs will be fully implemented, the sources added. They also mentioned that staff-level negotiations on the new loan program were held in May, and since then, Pakistan has achieved most of the preconditions.
It is noteworthy that the electricity prices in Pakistan are so high that the majority of the people are unable to pay their bills and it is feared that this issue can create a big crisis in Pakistan shortly.
