Pakistan has presented to the International Monetary Fund (IMF) its proposal for relieving electricity consumers, assuring that none of its conditions will be violated.
Interim finance chief Dr. Shamshad Akhtar stated on Wednesday that the Pakistani team met with the lender and assured full cooperation.
According to a national daily, the budget for 2023-24 has a provision for a Rs. 250 billion emergency allocation, which might be used to provide relief to electricity consumers without voiding any IMF condition, reported a national daily.
The relief package may be limited to those who consume up to 400 units. Billing would be staggered, and some protected users’ prices could be cut thanks to the Rs. 250 billion emergency cash.
A top official privy to the IMF program assured that Pakistan will not breach the IMF’s pre-determined targets for electricity subsidies, fixed targets for circular debt accumulation, and a primary surplus of 0.4 percent of GDP for the current fiscal year.
The Pakistani side has yet to discuss the full extent of the plan with the lender in writing, so relief for electricity consumers may get delayed for the time being.
