Preparations have also started to make electricity more expensive after petroleum products
ISLAMABAD (92 News) – The government has started preparations to increase the price of electricity by Rs 7 per unit in the next financial year.
The government has issued a notification to increase the price of petrol and diesel by Rs 30 per liter. According to the notification, the new price of petrol has been increased from Rs 149.86 to Rs 179.86. The new price of diesel has gone up from Rs 144.15 to Rs 174.15 while kerosene has gone up to Rs 155.56.
At the request of the IMF, the government has started preparations to increase the price of electricity by Rs 7 per unit in the next financial year. Electricity tariff will be increased in base tariff and quarterly adjustment. The price hike will start from July 1.
The IMF, while expressing grave concern over the revolving loan of Rs 2600 billion, suggested immediate sale of profitable power distribution companies. It has been proposed to hand over the distribution companies running in loss of power to the provinces. NEPRA will provide assistance to the Auditor General for the audit of state-owned power companies. There is also pressure on the public sector to immediately privatize power plants.
The four-day review talks between Pakistan and IMF officials in Doha ended yesterday with a stipulation to end subsidies on petrol and electricity.