IMF demands power tariff raise by 20 percent

ISLAMABAD: The International Monetary Fund (IMF) has demanded Pakistan to increase the power tariff by 20 percent.

The Fund also asked Pakistan to provide all details of its financial assistance deals with China, sources informed the Geo News on Monday. The IMF delegates and Pakistani officials held another round of policy-level talks on Monday. According to the schedule, negotiations will continue on Tuesday as well.

Finance Minister Asad Umar said their stance differs with that of the IMF on several points. He said that differences between Pakistani officials and the global lender persist over the value of Pakistani rupee against dollar, whereas the IMF is also not satisfied with regard to reforms in the Federal Board of Revenue (FBR).

The global lender demanded yearly audit of every taxpayer from Pakistan, the sources said further stressing practical measures to overcome shortfall in revenue. It demanded Pakistan to set Rs4,700 billion target for this year's revenue collection. However, the finance minister said all of their dealings with the IMF were transparent and nothing would be hidden in this regard.