Preparations to make electricity and gas more expensive at the request of the IMF
ISLAMABAD: The International Monetary Fund (IMF) has demanded an end to subsidies on five basic items of electricity, gas and utility stores.
The government has started preparations to increase the prices of electricity and gas. According to sources, talks between Pakistan and the IMF will begin in October. The IMF has demanded an end to subsidies on five basic items at utility stores.
Sources said that the government of Pakistan will only subsidize the families involved in the Ehsas program. The IMF is pressuring to end the subsidy on electricity and gas.
The government of Pakistan has started preparations to increase the price of electricity and gas. Tough decisions will have to be made to make the talks between Pakistan and the IMF fruitful.
According to sources, 1 billion loan from IMF is likely to be released after the talks, Pakistan’s economy and targets will be reviewed during the talks, revenues, revolving loan situation will be reviewed during the talks The IMF had demanded an increase in electricity and gas prices.