The interim federal government predicts a further increase of Rs. 4.37 per unit in power cost till December 2023 and has ruled out any reduction in electricity bills for consumers without breaking the IMF programme.
According to news, Ministry of Finance insiders, lowering power taxes is unachievable without the cooperation of the International Monetary Fund. According to our sources, any cut in electricity taxes would be in direct opposition to the July 2023 $3 billion standby arrangement (SBA) the previous government had with the crisis lender.
Electricity price will increase
They emphasised that the IMF must be kept in the loop on any decisions made about power rate relief during the entire SBA. In addition, during the collection period of September 2023 through December 2023, there will be more frequent quarterly modifications, which is consistent with the revised Circular Debt Management Plan discussed with the lender.
Regulators are unable to provide relief to the public since they are required to collect quarterly adjustments and other levies in accordance with the bailout deal.
It has been reported that between now and December 2023, power costs may increase by as much as Rs. 4.37 per unit due to quarterly revisions. This action is intended to bring in an additional Rs. 122 billion from customers throughout that time frame. This action is also a part of the government’s plan to fix the energy industry’s money problems.
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