IMF allows govt to reduce electricity tariffs

Islamabad: The International Monetary Fund (IMF) has allowed Pakistan to reduce electricity tariffs by Rs1 per unit.

The IMF says that all consumers will get Rs1 per unit relief in electricity prices which will be given from the revenue generated from the levy on captive power plants.

The International Monetary Fund says that a levy has been imposed on gas consumption by captive power plants, and the government is also working on a relief package for electricity consumers.

A relief package in electricity prices will be announced with the approval of the IMF.

It is pertinent to note that two days ago, a staff-level agreement was reached between Pakistan and the IMF for a loan of $1.3 billion.