Concerns that the International Monetary Fund (IMF) might reject a cut in electricity costs were allayed, according to Prime Minister Shehbaz Sharif on Wednesday.
Unaffordable power rates have been a problem for Pakistan’s inflation-stricken consumers in recent years. In the $350 billion economy, which has shrunk twice in recent years as inflation reached all-time highs, these jumps have sparked social dissatisfaction and closed sectors.
The premier shared details of his recent trip to Dubai with a federal cabinet meeting, adding, “The head of the global lender has assured that Pakistan’s plan for lowering power tariffs will be given due consideration.”
On Tuesday, PM Shehbaz met Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF).
