LAHORE: The government of Pakistan, World Bank and Asian Development Bank have scrapped the proposal of increasing the electricity tariff by six per cent.
A foreign ministry official told Express 24-7 that World Bank and ADB have agreed to remove the condition of increasing electricity prices in the country.
Earlier the Government of Pakistan was asked to increase the electricity tariff by 6 per cent from 1st of April. Sources say the increase in electricity tariff was never proposed by the IMF.
Sources say the IMF was only monitoring compliance of the condition and would not have an issue if the World Bank and ADB agree to let go.
World Bank has however stressed on the importance of implementation of a workable energy plan for the economy.