More data shared with IMF for relief in power bills

ISLAMABAD: The International Monetary Fund (IMF) has sought more data from the Power Division for its decision on various suggestions forwarded to the Fund seeking relief in inflated electricity bills for August and September.

“We have shared the required data with the Fund people hoping that IMF may today (Monday) come up with its response with a yes or no to the assertions of the Finance and Power Divisions, seeking permission for relief to inflation-stricken people in electricity bills,” some top sources engaged with the IMF told The News.

“At the moment, authorities of both Power and Finance divisions are in hectic talks with the Fund people on the data related to suggested measures for solace in power tariffs and their possible impact on circular debt, cash flow situation and further delays to IPPs, ultimately making the power sector more unsustainable.”

Earlier, caretaker Prime Minister Anwaar-ul-Haq Kakar on August 31, while talking to a section of the media in the PM Office, said that in 48 hours, the Fund will come up with its nod, but the deadline has elapsed and the decision from the Fund is still being awaited.

Earlier, the IMF was briefed about the proposal under which some portion of the tariff, up to 30 percent for August and September, would be scaled down and the impact of reduced tariff would be passed on to consumers in six months of the winter season, from October 2023 to March 2024 in a staggered manner.