Pakistan Engages IMF For Energy Price Relief Amid Electricity Bill Protests
Islamabad has formally approached the International Monetary Fund (IMF) to lower the electricity expenses for the general public. In a virtual interaction with IMF spokesperson Esther Perez Ruiz, interim finance minister Shamshad Akhtar presented multiple suggestions, prompting the IMF to seek a structured plan.
Local reports indicate that the finance ministry and IMF deliberated on strategies to decrease power costs, acknowledging the challenges stemming from rising electricity rates.
Pertaining to the reduction of energy charges, Pakistan conveyed its stance to the IMF, offering various suggestions. The IMF was apprised of the country’s perspective on curbing energy costs and sought a comprehensive plan for implementation.
Officials from the Finance Ministry disclosed that a formal proposal is likely to be submitted to the IMF by the end of the day. Additionally, the virtual meeting included a discussion on the initial-month performance of the Federal Board of Revenue (FBR).
In July, the FBR exceeded the monthly goal by collecting taxes amounting to Rs538 billion in the current fiscal year, surpassing the target by Rs 4 billion. The IMF evaluated the FBR’s performance, commending its achievement of the tax objectives.