Pakistan govt approves massive hike in power tariff on IMF demand: Report

The proposal states that the government recommends an increase of PKR 3 per unit for unprotected residential consumers using 1 to 100 units which will take the current per unit cost from PKR 13.48/unit to 16.48/unit.

The proposal states that the government recommends an increase of PKR 3 per unit for unprotected residential consumers using 1 to 100 units which will take the current per unit cost from PKR 13.48/unit to 16.48/unit.

Similarly, for residential consumers using more than 700 units, the government has proposed an increase in ₹7.5/unit from the current PKR 35.22/unit to 42.72/unit, yield reported, saying ARY News.

Similarly, for residential consumers using more than 700 units, the government has proposed an increase in ₹7.5/unit from the current PKR 35.22/unit to 42.72/unit, yield reported, saying ARY News.

Sources informed that the government has sent the matter to Nepra to increase the tariff and the regulator will hold a public hearing to decide the matter before issuing the final notice. If approved, the new tariffs will take effect on July 1.

Sources informed that the government has sent the matter to Nepra to increase the tariff and the regulator will hold a public hearing to decide the matter before issuing the final notice. If approved, the new tariffs will take effect on July 1.

On July 14, Nepra allowed the federal government an increase of PKR 4.96/unit in the base electricity tariff. The move comes as Prime Minister Shehbaz Sharif has assured IMF Managing Director Kristalina Georgieva that he will not tolerate even the slightest violation of the agreement reached by the global lender.

On July 14, Nepra allowed the federal government an increase of PKR 4.96/unit in the base electricity tariff. The move comes as Prime Minister Shehbaz Sharif has assured IMF Managing Director Kristalina Georgieva that he will not tolerate even the slightest violation of the agreement reached by the global lender.

International Monetary Fund asks Pakistan to further increase electricity and gas tariffs as details of IMF-Pakistan deal emerge, ARY News reported.

International Monetary Fund asks Pakistan to further increase electricity and gas tariffs as details of IMF-Pakistan deal emerge, ARY News reported.

According to the Pakistan-IMF agreement, Pakistan should be strict in its monetary policy to reduce inflation in the country. The Washington-based financial body also welcomed the interest rate hike in Pakistan.

According to the Pakistan-IMF agreement, Pakistan should be strict in its monetary policy to reduce inflation in the country. The Washington-based financial body also welcomed the interest rate hike in Pakistan.

The IMF has asked Pakistan to gradually reduce subsidies in the power sector, and costs related to salaries and pensions. The country needs to make reforms regarding pensions. It also warned Pakistan not to take new loans from the State Bank and clear pending bills in the power sector.

The IMF has asked Pakistan to gradually reduce subsidies in the power sector, and costs related to salaries and pensions. The country needs to make reforms regarding pensions. It also warned Pakistan not to take new loans from the State Bank and clear pending bills in the power sector.

The unemployment rate of 6.2 in 2022, may rise to 8.5 percent in 2024 in Pakistan, the report added. Pakistan’s financial loss will remain at 7.5 percent and the debt ratio will be 74.9.

The unemployment rate of 6.2 in 2022, may rise to 8.5 percent in 2024 in Pakistan, the report added. Pakistan’s financial loss will remain at 7.5 percent and the debt ratio will be 74.9.

It is important to mention here that the IMF’s executive board approved the bailout loan program of USD 3 billion this week after months of delay, boosting Pakistan’s financial stability ahead of this year’s elections. Fitch Ratings upgraded Pakistan this week on an improving funding environment.

It is important to mention here that the IMF’s executive board approved the bailout loan program of USD 3 billion this week after months of delay, boosting Pakistan’s financial stability ahead of this year’s elections. Fitch Ratings upgraded Pakistan this week on an improving funding environment.

Later, the State Bank of Pakistan (SBP) received USD 1.2 billion from the International Monetary Fund (IMF) as the first tranche of a USD 3 billion bailout to stabilize the economy.

Later, the State Bank of Pakistan (SBP) received USD 1.2 billion from the International Monetary Fund (IMF) as the first tranche of a USD 3 billion bailout to stabilize the economy.

The Minister of Finance, Ishaq Dar, said in a televised statement that the remaining USD 1.8 will be released after two reviews, meaning there will be two installments.

The Minister of Finance, Ishaq Dar, said in a televised statement that the remaining USD 1.8 will be released after two reviews, meaning there will be two installments.

Pakistan’s foreign reserves jumped by USD 4.2 billion in the last four days, he said – in a reference to a USD 2bn deposit made in Saudi Arabia and another USD 1bn received from the United Arab Emirates (UAE).

Pakistan’s foreign reserves jumped by USD 4.2 billion in the last four days, he said – in a reference to a USD 2bn deposit made in Saudi Arabia and another USD 1bn received from the United Arab Emirates (UAE).