Pakistan submits proposals to IMF on relief in electricity bills

Islamabad: Pakistan has approached the International Monetary Fund (IMF) to provide relief to the public in electricity bills on Wednesday.  

Interim Finance Minister Shamshad Akhtar held a virtual conversation with IMF representative Esther Perez Ruiz where some suggestions were floated and the IMF asked for a written plan.

Sources in the Ministry of Finance said the two sides held talks about relief in the electricity bills.

The IMF was briefed on the situation arising after the hike in power bills, the sources added.

Various proposals were submitted to the IMF regarding provision of relief in electricity bills, the ministry sources said.

The IMF received a briefing on Pakistan’s stand for relief in electricity bills. It has sought a written plan for relief in power bills.

The written plan is likely to be sent to the IMF by the evening, the Finance Ministry sources said.

During the virtual communication with the IMF, the first-month performance of the Federal Board of Revenue was also reviewed, FBR sources said.

In the current fiscal year in July, taxes worth Rs538 billion were collected, which was Rs4 billion more than the target for the month.

The IMF reviewed the FBR’s performance, the sources added. It also praised the bureau for achieving the tax target.