Electricity Tariff
Pakistan has notified the International Monetary Fund (IMF) of its full compliance with all preconditions, concurrently finalizing a significant increase of over Rs. 5 in the base electricity tariff.
The Ministry of Finance engaged in virtual discussions with the IMF, where Pakistan’s adherence to the stipulated conditions was communicated.
The IMF expressed satisfaction with Pakistan’s proactive measures in meeting these benchmarks. These discussions set the stage for advancing towards a new loan program, with substantial progress anticipated by the third week of July.
In parallel, the Ministry of Finance conducted a detailed briefing on practical post-budget measures. During this session, updates regarding adjustments in gas prices effective from July 1 were presented to the IMF.
The dialogue highlighted Pakistan’s commitment to economic reforms and fiscal discipline as part of its ongoing collaboration with the IMF.
IMF officials commended Pakistan for successfully navigating the process from budget approval to its implementation phase.
Discussions also encompassed plans for an IMF delegation’s upcoming visit to Pakistan to discuss the parameters of the new loan program. It is expected that arrangements for the delegation’s visit will be finalized within the current week.
The increase in the base electricity tariff underscores Pakistan’s efforts to stabilize its economy and fulfill international financial obligations.
This decision, while aimed at securing IMF support, reflects broader economic strategies geared towards sustainable growth and fiscal stability.
As Pakistan progresses towards finalizing the new loan program with the IMF, the ongoing dialogue and collaborative efforts underscore a shared commitment to addressing economic challenges and fostering long-term economic resilience.
The upcoming visit of the IMF delegation signifies a critical phase in this partnership, aimed at achieving mutually beneficial economic outcomes and advancing Pakistan’s economic agenda.
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