Sunday, June 26, 2022

IMF talks: Hike in electricity prices by Rs7, privatization of DISCOs planned

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ISLAMABAD: Federal government has decided to hike electricity prices by Rs7 besides privatization of profitable public-owned DISCOs after talks with the International Monetary Fund (IMF) for the release of a US$1 billion tranche, ARY NEWS reported.

According to sources privy to the matter, the hike of Rs 7 in electricity prices would include an increase in basic tariff and fuel adjustment charges. “The hike in power tariff will be applicable from July 01,” they said.

Moreover, the IMF has also expressed concern over the Rs2,600 billion power tariff and suggested the government immediately privatize the public-owned profitable DISCOs.  It has further been suggested to handover loss-making DISCOs to provinces.

Furthermore, the sources said that the NEPRA will assist the Auditor General of Pakistan in proper audit of the public-owned DISCOs. “The IMF is also pressurizing the government to immediately privatize public-owned power generation companies,” they said.

Yesterday, the federal government surrendered before the International Monetary Fund (IMF) and announced a massive hike in petrol and diesel prices up to Rs30 per litre.

While addressing a press conference today, Finance Minister Miftah Ismail said that the government has decided to increase the prices of petroleum products which will be taken into effect tonight at 12:00 midnight.

The finance minister announced to hike the petrol, diesel, light diesel and kerosene oil prices up to Rs30 per litre.

After the recent hike, the new price of petrol will be Rs179.86 per litre, high-speed diesel (HSD) Rs174.15, kerosene oil Rs155.56 and light diesel Rs148.31 rupees.

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