Tag: energy sector reforms
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Pakistan to receive $1.5 billion from international lenders following IMF approval
Pakistan is poised to secure funds amounting to $1.5 billion from global lenders, contingent on the approval of the loan tranche under the $3 billion Stand-By Arrangement (SBA) by the International Monetary Fund (IMF), as highlighted by Dr Shamshad Akhtar, the caretaker finance minister, in a recent interview with a local news channel.
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IMF recommends gas price hike, subsidy cuts for Pakistan
The International Monetary Fund (IMF) has reportedly urged Pakistan to address the growing concerns surrounding the power sector’s circular debt, which now stands at 4 per cent of the gross domestic product (GDP).
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Govt plans to increase gas and electricity prices in January
The interim Finance Minister, Dr Shamshad Akhtar, announced during a press conference that the caretaker government is planning to increase electricity and gas tariffs in January to address the circular debt issue, in line with the International Monetary Fund’s (IMF) Stand-By Arrangement (SBA).
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Nepra approves Rs1.46 per unit fuel charge adjustment
The FCA, however, excludes electric vehicle charging stations (EVCS) and lifeline consumers. This means that this adjustment will be itemised separately on consumers’ bills based on their electricity usage in July 2023. The billing for this adjustment is scheduled for September 2023.
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IMF’s $3 billion stand-by arrangement expected to bolster Pakistan’s economy and restore investor confidence
Pakistan and the International Monetary Fund (IMF) have achieved a significant milestone with the announcement of a staff-level agreement (SLA) on a $3 billion stand-by arrangement (SBA).
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ADB recommends targeted subsidies and tax reforms for Pakistan’s economic recovery
The Asian Development Bank (ADB) has recommended that Pakistan implement targeted subsidies to alleviate inflationary pressures and improve the tax-to-GDP ratio in order to emerge from the current state of economic uncertainty.