SIFC Operations
Amidst ongoing negotiations between Pakistan and the International Monetary Fund (IMF) for a new bailout package, the government has reassured the IMF of ensuring transparency in the operations of the Special Investment Facility Council (SIFC).
The discussions, occurring during an IMF mission’s two-week visit to Pakistan, focused on ensuring that investments through the SIFC adhere to the Public Investment Management Framework, with a strong emphasis on transparency.
Sources indicate that there will be no preferential treatment in investment opportunities, incentives, or guaranteed returns, aligning with international standards.
Officials from the Ministry of Finance underscored the commitment to maintaining a distortion-free investment environment and implementing transparent procedures for the SIFC.
Additionally, assurances were provided regarding the enhancement of the Central Monitoring Unit’s efficiency, aiming to streamline monitoring mechanisms.
Prior to this, the Ministry of Energy affirmed its commitment to raising the base tariff of electricity, signaling a forthcoming increase in electricity prices nationwide.
The hike, set to take effect from July 1, follows adjustments in the multi-year tariff by the National Electric Power Regulatory Authority (Nepra).
As per the Ministry of Power, the retail price of electricity is anticipated to surge by Rs7 per unit, impacting consumers across all categories, except lifeline customers who currently benefit from subsidized tariffs.
Sources suggest that the minimum national average tariff is expected to witness a significant rise from Rs29 to Rs36 per unit, reflecting the adjustments mandated by Nepra.
This adjustment is poised to affect all categories of electricity consumers, except those eligible for subsidized lifeline tariffs.
Overall, the government’s commitments to transparency and efficiency underscore its efforts to navigate fiscal challenges while ensuring equitable treatment and sustainable economic management.
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