IMF demands increase in power tariffs

ISLAMABAD (92 News) – The International Monetary Fund (IMF) expressed its concern over delay in increasing the power tariffs. As per reports, the IMF delegation paid a visit to headquarters of National Electric Power Regulatory Authority (NEPRA) and reviewed current laws body. The IMF expressed grave reservations over line losses, non-payments and soaring deficit. The delegation inquired why final authority to hike power tariffs rests with the federal govt. The IMF delegation recommended to eliminate the role of government in deciding the power tariff. The delegation also asked why summary aimed at increasing electricity power was not implemented thus far. The IMF has also expressed concerns over increasing power losses and circular debt, which has recently crossed Rs1.2 trillion. The delegation of IMF recommended to slash duration of submission of NEPRA’s progress report from 30 days to 15 days.