Inflated power bills: No relief in sight as IMF nod awaited

The International Monetary Fund (IMF) has not granted its assent on Pakistan's request for deferment of electricity bills, causing a delay in providing relief to power consumers due to resistance from the IMF.

thenews.com.pk

Relevant topic timeline:

8/26/2023

IMF’s nod essential for giving relief in electricity bills: Miftah Ismail

Former finance minister Miftah Ismail reveals that the caretaker government in Pakistan must seek permission from the International Monetary Fund (IMF) before giving relief to consumers facing inflated electricity bills, and urges political leadership to come up with a strategy to collect taxes from the rich.

8/30/2023

Govt seeks IMF nod for relief in electricity bills as protests continue unabated

The Pakistani government is seeking approval from the International Monetary Fund (IMF) before announcing any immediate relief for consumers protesting against inflated electricity bills, with relief likely to be provided to those using up to 400 units per month for August and September.

9/5/2023

IMF rejects Pakistan's tariff adjustment plan amid inflation woes

The IMF has rejected Pakistan's proposal for tariff adjustment or additional subsidy, making it more challenging for the country to manage its economic challenges amidst rising inflation.

9/5/2023

Pakistan amidst a polycrisis

The caretaker government in Pakistan must seek approval from the International Monetary Fund (IMF) before providing any relief in electricity bills, as the country needs to maintain its IMF agreement to address its balance-of-payments challenges and regain the trust of investors, which is crucial for stabilizing the value of the rupee and preventing further depreciation. The depreciation of the rupee has significant implications for the electricity sector, leading to higher fuel import bills and capacity payment charges, resulting in higher electricity bills for consumers. The government relies on electricity bills to generate revenue through taxes and surcharges, exacerbating the financial burden on consumers. To address these challenges, the caretaker government should focus on enhancing revenue mobilization, reducing expenditures, and improving the inflow of dollars through exports and remittances. Additionally, the government should consider privatizing loss-making public-sector enterprises and reducing inefficiencies in the power system to lower the unit cost of electricity. The government should also secure pledges for flood rehabilitation and disaster preparedness projects to access funds from international financial institutions.

9/15/2023

IMF to Urge China to Shift to Consumer-Driven Growth, Address Real Estate Risks As It Cuts Global Outlook

The International Monetary Fund (IMF) plans to advise China to boost domestic consumption, address its troubled real estate sector, and rein in local government debt, in order to combat the declining growth in China and the global economy, according to IMF Managing Director Kristalina Georgieva.

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Posted 9/3/2023, 12:59:28 AM

Inflated power bills: No relief in sight as IMF nod awaited

thenews.com.pk

Relevant topic timeline:

8/26/2023

IMF’s nod essential for giving relief in electricity bills: Miftah Ismail

8/30/2023

Govt seeks IMF nod for relief in electricity bills as protests continue unabated

9/5/2023

IMF rejects Pakistan's tariff adjustment plan amid inflation woes

The IMF has rejected Pakistan's proposal for tariff adjustment or additional subsidy, making it more challenging for the country to manage its economic challenges amidst rising inflation.

9/5/2023

Pakistan amidst a polycrisis

9/15/2023

IMF to Urge China to Shift to Consumer-Driven Growth, Address Real Estate Risks As It Cuts Global Outlook