IMF Asks Pakistan to Increase Electricity Price by Rs. 5 Per Unit Before July 10

The International Monetary Fund (IMF) has asked Pakistan to increase the electricity tariff by Rs. 5 per unit before July 10, 2024, to get a new program. Sources told ProPakistani that the lender has set electricity and gas price hikes as prior actions for the new program, so an increase in electricity prices is inevitable. Sources said that Pakistan has also asked the IMF to allocate more funds for the next program as the government has implemented all the conditions of the lender in the current year’s budget. Pakistan wants $8 to $10 billion under the new program, whereas sources said that the IMF is willing to give $6 to $7 billion for the new program. It is pertinent to note that Pakistan has implemented all the conditions of the IMF, and the lender is satisfied with the budget approval from parliament. Recently, the ECC maintained gas prices for residential consumers, while the forum approved an increase in gas tariffs for captive power plants.