On the request of the International Monetary Fund (IMF), Pakistan has decided to increase the price of electricity.
According to the sources of the Ministry of Finance, there were talks between Pakistan and the IMF for reforms in the energy sector, during which the IMF demanded to cancel the revolving debt of 4100 billion rupees in the electricity and gas sector.
Sources of the Ministry of Finance say that according to the demand of the IMF, the price of electricity will be increased by 3 rupees per unit by March, and by May, the price of electricity will be increased by another 70 paise per unit.
Sources in the Ministry of Finance say that the total price of electricity will increase by Rs 6 per unit till August.
Sources of the Ministry of Finance have said that the current fiscal year will be reduced by 952 billion rupees in the revolving debt, while the subsidy of 675 billion rupees will be eliminated.
Sources in the Ministry of Finance say that Rs 200 billion will be collected from the consumers by increasing the electricity tariff, in this context, a revised circular debt management plan has been requested from the government.
According to the sources of the Ministry of Finance, the revolving debt in the electricity sector has reached 2500 billion, in the gas sector it has reached 1600 billion.
Sources in the Ministry of Finance have said that the IMF is pressing to reduce the subsidy on electricity and increase the tariff to reduce the losses.
Sources of the Ministry of Finance say that it has been proposed to increase the electricity tariff by 7 and a half to 10 rupees per unit.
Sources in the Ministry of Finance further say that instead of 100 units, the government has proposed a subsidy of up to 300 units.
Sources in the Ministry of Finance have also said that Pakistan and the IMF will continue negotiations for consensus on the energy sector.
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