IMF rejects interim govt’s power bill relief plan

Says relief plan would impact of Rs15b, not Rs5b as Pakistan suggested in proposal

The International Monetary Fund (IMF) has rejected the plan sent to it by the caretaker government for providing relief to power consumers.

According to sources in the Ministry of Finance, the IMF, while rejecting the plan, stated that the relief plan would have an impact of over Rs15 billion, not Rs5 billion as Pakistan had suggested in the proposal.

The sources said the IMF has also demanded a plan for collecting these Rs15 billion in tax revenue, causing a delay as a new plan needs to be shared again with the IMF.

Once the new plan is shared, discussions will be held between IMF officials and the Ministry of Finance.

The sources have also disclosed that the caretaker government has assured the lender that the proposed relief will not affect the budget. It has also requested the IMF to allow it to receive the power bills in four monthly installments.