LAHORE – Pakistan Tehreek-i-Insaaf (PTI) led federal government is likely to hike power tariff after it reached an agreement on Sunday with the International Monetary Fund (IMF) under which the Fund would provide $6 billion Extended Fund Facility over the period of three years.
According to media reports, Electricity prices are likely to go up by Rs2.60 per unit after the government has agreed to increase the electricity tariff with the IMF.
The government has decided to increase electricity prices in two stages. In the first stage, power tariff will be increased by Rs1.30 per unit from July 1.
https://en.dailypakistan.com.pk/headline/pakistan-imf-finalise-6-billion-bailout-agreement/
In the second stage of the price hike, the power tariff will be increased by another Rs1.30 per unit from September.
The increase in the power tariff will reduce the burden on the government to provide Rs200 billion subsidy to electricity consumers.
With the increase in tariff, the electricity prices will increase from Rs12.98 per unit to Rs15.58 per unit.
The government has also assured the IMF to reduce the circular debt by curbing line losses, electricity theft and improving distribution.
