Power bills: IMF asks Pakistan to share relief plan in writing - SUCH TV
[ad_1]
The International Monetary Fund (IMF) on Wednesday asked Pakistan to share the plan in writing to provide relief in electricity bills as the protests continue countrywide. According to media report, the development comes after the caretaker government decided to seek the lender's nod before announcing any relief to the consumers. A meeting of the federal cabinet was held on Tuesday with interim Prime Minister Anwaarul Haq Kakar in the chair to mull options but ended without announcing any measures. The Power Division shared its proposals with the authorities but due to strict IMF loan conditions, it was concluded that the lender should be taken on board first. Islamabad had signed a $3 billion loan agreement with the Fund in July and agreed to stringent financial discipline during the programme. Under the bailout package, the previous government of the Pakistan Democratic Movement okayed a massive increase in electricity rates which are now being reflected in th...