New plan for relief in electricity bills shared with IMF

ISLAMABAD: The Ministry of Finance has submitted a new plan for relief in electricity bills to the International Monetary Fund (IMF), Geo News reported. According to sources, the additional amount allocated to the IPPs may be adjusted to provide relief in electricity bills. This amount of more than Rs15 billion will be allocated back to the IPPs after receiving installments through the bills. Sources said officials of the Ministry of Finance would discuss the new plan with the IMF again.

It should be noted that earlier the International Monetary Fund had rejected the caretaker government’s plan for relief in electricity bills. It was stated in the plan that the relief in electricity bills would have an impact of less than Rs6.5 billion. While rejecting the plan, the IMF said that the impact would be more than Rs15 billion rupees. Sources say the IMF has also asked for a plan to fulfill the financial capacity of Rs15 billion. The IMF has been assured by the government it will not go out of the budget to provide relief in electricity bills. The IMF has also been requested to receive the bills in four months.