The International Monetary Fund (IMF) has requested additional data from the Power Division in order to make a decision on relief in inflated electricity rates for August and September.
Local media reported today that necessary data has been shared with the lender in the hope that it will respond today with a yes or no for relief to inflation-stricken people in electricity bills.
Currently, officials from both the Power and Finance Divisions are engaged with the IMF representatives about data related to proposed measures for tariff relief and the possible effect on the country’s circular debt, cash flow, and further delays to independent power producers.
Pertinently, the IMF has been presented with a plan to reduce the power tariff by up to 30 percent for August and September, and that the impact of the reduced tariff would be passed on to consumers during the winter season, from October 2023 to March 2024.
This development comes after interim Prime Minister Anwaar-ul-Haq Kakar said on August 31 that the government was negotiating with relevant multilateral financial institutions regarding potential relief to electricity consumers.
The prime minister said the government will soon announce relief measures without defying the international commitments. Many have pointed out that the premier was hinting at discussions with the IMF to provide relief in electricity bills to the general public.
He said the government would ‘soon’ announce relief for electricity consumers, but the deadline has passed and the IMF’s decision is still pending.
