IMF calls for further hike in gas, power tariffs

ISLAMABAD – International Monetary Fund (IMF) on Thursday while demanding Pakistan to do more called on Islamabad to increase the prices of gas and electricity.

The international lender contacted Pakistani authorities and once again and demands Pakistan to do more and stressed that Pakistan should further increase the gas and power tariffs.

Sources said that the IMF has called for measures to reduce the circular debt, as well as measures to reduce power losses.

The IMF further demanded that National Electric Power Regulatory Authority (NEPRA) and the Oil and Gas Regulatory Authority (OGRA) be allowed to make independent decisions on tariffs, while economic reforms should be implemented and tax reforms be ensured.

The international lender demanded that to meet the tax targets for July-September at all cost, and that more than Rs1,000 billion be collected from July to September.