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A Big Demand Of The IMF Came Up

The IMF has made another demand that could further burden the Pakistani people with inflation. According to reports, the International Monetary Fund (IMF) requested an additional 150 billion rupees increase in electricity prices in July. Instead of the initially proposed 5 rupees, the IMF is now demanding a 7 rupee increase in electricity prices for July. Pakistan has been struggling to meet the set targets, and it is reported that the revolving credit in the power sector has increased by 150 billion rupees by the end of the current fiscal year, reaching an expected total of 2500 billion rupees.

The Ministry of Energy sources have mentioned that the IMF has expressed serious concerns over the lack of control over the revolving debt. The target was to control the revolving debt of the power sector at 2310 billion rupees by the end of this financial year, but it is expected to increase by more than 150 billion rupees by June.

Pakistan has assured the IMF of timely tariff rebasing to control the revolving debt of the gas sector and has been requested to share the plan for increasing power and gas tariffs in the next financial year. Further negotiations are ongoing with the Ministry of Energy officials and the IMF mission.

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