The IMF has requested Pakistan to raise the electricity price by Rs. 5 per unit before July 10th
The International Monetary Fund (IMF) has asked Pakistan to raise the cost of electricity by Rs. 5 per unit before July 10, 2024, in order to qualify for a new financial assistance program.
According to reports from ProPakistani, the IMF has made increasing electricity and gas prices a requirement to qualify for the new program. This means that the price of electricity will definitely go up.
Sources mentioned that Pakistan has also requested the IMF to provide more money for the next program because the government has met all the IMF’s conditions in this year’s budget.
Pakistan wants $8 to $10 billion for the new program, but sources say the IMF is only willing to give $6 to $7 billion.
It’s important to note that Pakistan has met all the IMF’s conditions, and the IMF is satisfied with the approval of the budget by the parliament.
Recently, the Economic Coordination Committee (ECC) decided to keep gas prices the same for households, but they agreed to increase gas prices for captive power plants.
