ISLAMABAD – With the approval of the federal budget for 2024-25, the International Monetary Fund (IMF) demanded Pakistan ‘to do more’.
The sources in the Ministry of Finance said that the IMF wanted an increase in electricity and gas prices before July 10 and has requested that the rate hike be implemented as a preemptive measure starting July 1.
The IMF demanded immediate implementation of NEPRA’s decision to make electricity more expensive, control subsidies by increasing gas rates in the new fiscal year, and comply with the IMF’s preconditions for the new loan program.
The sources further said that an IMF delegation is expected to visit Pakistan in the second week of July.
The IMF praised the tough economic decisions in the budget, considering them necessary for the economy.
The sources within the Ministry of Finance, the IMF also appreciated the decision to end tax exemptions and concessions in the federal budget.
