IMF approves govt’s proposal to reduce electricity prices
ISLAMABAD - The International Monetary Fund has accepted the Pakistan i government’s proposal to lower electricity prices. Negotiations between Pakistan ’s economic team and the IMF delegation have entered the final phase as Pakistan sought to secure the second tranche of over $1 billion under the $7 billion Extended Fund Facility program.
During crucial discussions, the Ministry of Energy officials held talks with the IMF on tariff rebasing. Sources indicate that the IMF has given a green signal for reducing electricity rates, allowing NEPRA and the Ministry of Energy to make the final decision.Additionally, authorities presented the IMF with a privatisation plan for power distribution companies . The IMF expressed serious concerns over delays in privatising two DISCOs by January and highlighted inefficiencies in the power sector.Further negotiations on the circular debt in the power sector, tax policies, and sovereign wealth fund discussions are scheduled for today.Recommended NewsWhat makes Greenland a strategic prize at a time of rising tensions? And why now?CM Maryam suspends Mayo Hospital MS, CEO for 'dereliction of duty'
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