IMF approves a payment reduction for electricity bills

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IMF approves a payment reduction for electricity bills

The Pakistani government’s request for relief for energy users who use up to 400 units was rejected by the International Monetary Fund (IMF).

Media sources claim that Pakistan and IMF representatives spoke about reducing user electricity rates.

According to reports, the IMF decided to charge consumers up to 200 units of electricity in installments while rejecting the suggestion to relieve those using up to 400 units of electricity.

According to the Finance Ministry, customers with 200 units would experience a reduction in their electricity rates because there would be no additional fees for paying bills after the due date.

According to a document from the Finance Ministry, electricity costs would be reduced starting in August 2023. There won’t be an additional 10% fine for paying bills late.

About four million power consumers are likely to get temporary relief with this approach because the federal cabinet will ultimately decide whether or not to accept bills in installments. 32 million consumers will gain from the relief of up to 400 units.

According to reports, the IMF advised Pakistani authorities to improve recovery by putting a stop to energy and gas theft.

A rise in the price of gas from 45 to 50 percent starting on July 1 was another demand made by them. The federal cabinet must approve any increases in gas prices.

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