An electricity rate cut of Re1 per unit has been authorized by the International Monetary Fund (IMF), giving much-needed relief to all consumers nationwide.
The money raised from a charge placed on natural gas-powered captive power plants will be used to pay for the relief. This levy was implemented by the government as part of a larger plan to effectively and sustainably manage the finances of the energy industry.
The government is also working on a relief package for power users, with the goal of providing more funding to businesses and households that are having financial difficulties. However, IMF approval is required before this package can be implemented.
A staff-level agreement on the first economic assessment was reached between Pakistan and the International Monetary Fund (IMF) on Wednesday.
