Caretaker Govt Will not Deal With IMF: Interim Finance Minister

The Finance Ministry will not be going to IMF or signing any deals with them, said the caretaker Finance and Planning Minister Shamshad Akhtar.

The former governor of State Bank said this while talking about load shedding in a press conference in Islamabad today.


IMF Alerts “Pakistan’s Net Foreign Currency Reserves Stand at Minus $724 Million”

She also explained the reason for increase petrol prices (increased by Rs. 4.26 per liter from today), saying that it follows a certain formula. She added,”Oil prices are determined by global prices. All governments have to adjust petroleum prices.”

Four Reasons for Increase in Loadshedding

The new Minister of Law and Justice, Minister of Parliamentary Affairs and Minister of Information for the interim government, Ali Zafar, elaborated that there are four reasons for load-shedding across Pakistan

He said,

We have the capability to generate 28,000MW of electricity. While we have the capability to generate electricity we are unable to do so owing to four reasons. The four reasons are electricity production falling short of demand, technical faults, water shortage and transmission losses.

He said that if the power plants are running on full capacity and there is water in dams, we can produce 28,00MW of electricity. He continued that the demand is a lot higher than the supply, which is another issue that needs to be resolved.

Currently, the electricity demand is around 23,000 to 24,000 MW but would increase further in coming months.

As the caretaker information minister, he emphasized access to information for the population.

Mr. Zafar also promised not to compromise on Pakistan’s security and said, “Will fully support the Election Commission of Pakistan for a free and fair election.”

Via Geo News

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