IMF allows relief on power bills

ISLAMABAD: The International Monetary Fund (IMF) has granted approval for relief in electricity bills, impacting millions of consumers, according to Finance ministry sources.

Under the IMF-endorsed plan, consumers utilizing up to 200 units of electricity will receive immediate relief in their August 2023 bills. Furthermore, they will have the option to pay their bills in installments.

Approximately four million consumers are expected to benefit temporarily from this measure. The final authorization for this relief in electricity bills will be granted by the Prime Minister through a circulation summary.

Electricity bills: Good news expected in 48 hours

In a significant development, sources from the Ministry of Finance have confirmed that an additional 10 percent penalty for late bill payments will no longer be levied.

However, it is worth noting that the IMF has rejected a proposal to extend relief to consumers using up to 400 units of electricity. This decision could have potentially benefited 32 million consumers.

The IMF’s primary focus appears to be on enhancing efforts to crack down on electricity and gas theft.

Additionally, there is a demand for a 45 to 50 percent increase in gas tariffs starting from July 1, pending approval from the Cabinet, according to sources.

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