The International Monetary Fund (IMF) was not taken into confidence on the relief in electricity bills.
In this regard, the sources of the Ministry of Finance say that reduction in taxation in electricity bills cannot be trusted by the IMF, if the taxation in bills is reduced, it will be a violation of the IMF agreement.
According to sources, an agreement has been reached with the IMF for quarterly adjustments and taxation, according to which quarterly adjustments cannot be given relief in electricity bills.
Sources say that in terms of quarterly adjustment till December, Rs 4.37 per unit will be more expensive, from which Rs 122 billion will be collected.
According to the sources, it is necessary to take the IMF into confidence on the decision for relief in electricity rates. The decision to issue sukuk bonds will be taken after the completion of the IMF economic review, while the plan to issue international sukuk bonds in September has been postponed.
Sources say that 2 billion dollars worth of sukuk bonds will be issued during the current fiscal year. The second economic review with the IMF will begin at the end of September. Pakistan’s rating can be improved by issuing sukuk bonds in November.
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