ISLAMABAD: The federal administration has told the International Monetary Fund (IMF) staff that the power tariff will be raised.
According to sources, the government will hike the power tariff by Rs 6.79 per unit over the next five months.
The power division informed the IMF delegation of the strategy for reducing circular debt by raising electricity tariffs and minimizing power theft and line losses.
Under quarterly adjustment, the power cost will rise to Rs 4.46 per unit in the current month. The rate would rise by Rs 3.21 per unit in February. The power tariff will rise by Rs.69 and Rs.1.64 per unit in March and June, respectively.
Previously, Pakistan and the International Monetary Fund (IMF) began discussions on the ninth review of the $7 billion Extended Fund Facility (EFF).
The International Monetary Fund (IMF) issued a list of essential activities and stated unequivocally that Islamabad must proceed toward implementing all objectives in order to restart the stopped Fund programme.
The IMF has asked Pakistan to take all necessary steps to pave the path for a staff-level agreement and the release of a $1 billion tranche under the Extended Fund Facility (EFF).