All IMF conditions met, power sector ready to brief mission

Islamabad: Power sector of Pakistan is ready to brief the mission of International Monetary Fund (IMF) after all the conditions have been fulfilled, however the meeting between IMF and power sector officials will be held today (Monday).

According to the details, the expenses incurred on the construction of power plants have also been transferred to the consumers, while the electricity subsidy has been withdrawn from farmers, and the discount package for import industries has also been abolished.

The circulating loan has been transferred to the public. The basic rate has also been increased by Rs7.5. The campaign against electricity theft has had an impact of Rs48 billion, 20,000 power thieves have been arrested. 40,000 cases have been registered since September till yet while 189 government officers involved in electricity theft have been suspended.

A burden of Rs3.23 has been imposed on consumers for interest on Power Holdings Limited (PHL) loan, additional overhead charge of Rs3.23 is being collected gradually. The circular debt of billions of rupees has also been imposed on electricity consumers.

It has also been stated that an increase of Rs14.24 was also applied in the name of arrears. The government has also withdrawn Rs.3.60 of the subsidy given to farmers on electricity, the export industry in February. The Rs19.99 fixed discount package introduced for the export industry in February this year has also been discontinued.