In order to secure the next loan tranche of over
The report said that though the proposed increase appears to be marginal in comparison with the hike in power tariff imposed last year, the government believes that Pakistan Tehreek-e-Insaf (PTI) may use it for settling political scores and make it difficult for the government to implement the necessary decision.
According to the report, the timing of the ongoing sit-ins by PTI and Pakistan Awami Tehreek (PAT) has made it difficult for the government to implement the marginal increase of less than 50 paisas per unit in power tariffs.
They revealed that IMF was suspicious that the government may delay the implementation until the political dust settles down in
Interestingly, due to difference over the timing of the increase in tariffs,
Discussions will be continuing in the coming days via video conference from
According to the report, the
Subsequently, IMF staff, led by
After increase in power tariffs, the IMF staff would present its report to the Fund’s Executive Board. Upon approval of the report, the international lender will disburse the fifth loan tranche of over
The officials said that if the government increases the power tariffs, the IMF Board may meet next month to consider the request to approve the next tranche.
Meanwhile, an official handout said “The IMF is encouraged by the overall progress made in pushing ahead with policies to strengthen macroeconomic stability and reviving investment and growth.”
It added economic indicators were generally improving, with growth continuing to gain momentum, inflation on a downward trajectory, and credit to the private sector rebounding sharply. The IMF said economic growth is expected to rise by 4.3% in the current fiscal compared to a provisional estimate of 4.1% in the last fiscal year.
Most Popular Stories
- PBS Series Examines America's Demographic Shift
- Americans Bet Big on Gambling Industry
- Petri Likely Broke House Ethics Rules
- California's Ban on Plastic Bags: What Now?
- Texas Sees Gains in Hispanic College Enrollment
- Exxon Gives Nod to Fracking Risks
- Morgan: 'Can't Believe' Wal-Mart Blaming Him
- Can You Be Fired for Using Medical Marijuana?
- Wealth Gap Widens as Rich Spend More on Kids' Education
- Lack of Sea Ice Brings 35,000 Walruses Ashore