In order to qualify for a new program, Pakistan has been required by the International Monetary Fund (IMF) to raise the power tariff by Rs. 5 per unit by July 10, 2024.ProPakistani was informed by sources that the lender has mandated increases in gas and electricity costs as prerequisites for the new program, meaning that an increase in power prices is unavoidable.
According to sources, Pakistan has also requested that the IMF provide additional funding for the upcoming program, given that the government has fulfilled all of the lender’s requirements in the budget for this year.While reports claim that the IMF is willing to provide $6 to $7 billion for the new program, Pakistan is demanding $8 to $10 billion.
It is important to remember that Pakistan has complied with every requirement set forth by the IMF, and the lender is happy that the parliament has approved the budget.The forum recently approved an increase in gas tariffs for captive power plants, whereas the ECC recently maintained gas pricing for residential consumers.
