IMF assured of timely power, gas tariffs increase

The government has assured the IMF of timely increase in electricity and gas tariffs. Besides, it has also assured the fund to introduce more economic reforms in the budget, with no new tax amnesty, exemption or concession.

According to sources, IMF has demanded a hike in the gas tariff from June 2024 on a half-yearly basis.

Read Govt considers tariff hikes on imports

The fund has demanded to issue the notification of annual rebasing of electricity tariff in 2024-25, review of power purchase agreements and reforms in subsidy of agricultural tube wells.

The lending agency has also demanded an end to electricity theft.