Power ministry hikes up tariff on IMF conditions

ISLAMABAD: The Ministry of Water and Power has raised the electricity tariff by 0.43 paisa to meet the conditions demanded by the International Monetary Fund (IMF), ARY News reported Monday.

Sources told that the power ministry would earn Rs 147 billion after the latest hike in electricity tariff. The new rates come into effect from October 16, 2014 and will be received from consumers next month.

K-Electric is exempted from this new tariff hike. The government has made this increase under the head of surcharge.

The dialogue between the IMF and Pakistani officials could not succeed in August this year, leading to withdrawal of IMF’s tranche of $ 550 million

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