The International Monetary Fund (IMF). Finance Ministry’s plan to stop revolving credit approved.
Along with this, the IMF has warned Pakistan that if the revolving credit is not controlled, the agreement will be violated.
The IMF has also warned against future deals if conditions are not met.
Sources at the IMF say that if the conditions are not implemented, the next agreement will have stricter conditions.
The sources of the Ministry of Finance have said that the plan to control the revolving debt between the Ministry of Finance and the IMF has been decided, the revolving debt of the power sector will be stopped at 2340 billion rupees this fiscal year.
Finance Ministry sources say that approval has been given to release more than 400 billion to reduce the revolving debt.
According to the sources of the Ministry of Finance, this amount will be released in installments to reduce the revolving debt. Overall, the current financial year will increase the revolving debt by 122 billion rupees.
The sources of the Ministry of Finance have said that the plan of no increase in the revolving credit in the next financial year has been given to the IMF.
Sources in the Ministry of Finance have said that to control the revolving credit, the electricity prices will be increased and recoveries will be improved.
Finance Ministry sources further say that electricity prices are being increased as per the share plan with the IMF.
The sources of the Ministry of Finance have also informed that the IMF has approved this plan to stop the revolving credit of the Ministry of Finance.
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