Business
Caretaker govt to approach IMF regarding relief in electricity bills
The meeting said to make decision after considering the conditions of International Monetary Fund (IMF).
Islamabad: The caretaker federal government of Pakistan has decided to approach the International Monetary Fund (IMF) following the recommendations of Ministry of Energy regarding relief in electricity bills for the public.
Accoriding to details, a meeting of the federal cabinet was held under the chairmanship of Caretaker Prime Minister Anwaar-ul-Haq Kakar, which could not decide to provide relief to the people in electricity bills and the meeting ended without any result.
It has been reported that it was said in the meeting that a decision will be taken after considering the conditions of International Monetary Fund (IMF).
Media reports told that it has been decided to approach the IMF on the recommendations given by Ministry of Energy and relief can be given to the people after the approval of IMF.
On the other hand, reports stated that Ministry of Finance said that IMF has not been taken into confidence about possible relief and reduction in taxation in electricity bills. Therefore, doing so would be a violation of IMF agreement.
It is said that an agreement has been reached with IMF for quarterly adjustments and taxation, according to which quarterly adjustments cannot be given relief in electricity bills, till December.
The quarterly adjustments will cost Rs4.37 more per unit. Later, Rs122 billion will be received in the form of quarterly adjustment.