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Monday, November 25, 2024

Home Top News IMF asks Pakistan to further hike gas tariff

IMF asks Pakistan to further hike gas tariff

by News desk
February 6, 2024
in Top News

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The International Monetary Fund on Sunday asked Pakistan to further hike the gas tariff.

According to sources, the IMF demanded Pakistan to increase gas prices till mid-February, the hike in gas prices could go up to 41 percent.

Sources said that the IMF refused to provide subsidies on the power tariff except for the subsidies given in the budget.

Sources revealed that Rs 1000 billion cash will released for the petroleum sector, Rs 250 billion for power sector, Rs 600 billion for OGDCL whereas Rs 150 billion will be issued for the PPL.

Earlier, Pakistan shared an electricity tariff plan for the export sector with the International Monetary Fund. The Pakistan government proposed lowering the power tariff to 9 cents from 14 cents to the export sector.