ISLAMABAD: The IMF says that the rupee will have lost 18 percent of its value by June next year.
According to the sources, in the talks with the officials of Nepra, the IMF has suggested that the increase in electricity prices in July should be done according to the depreciation of the rupee by June next year instead of the current value of the rupee.
According to sources in the Ministry of Energy, the government plans to increase the electricity prices by Rs. 7 per unit in July as per the current value of Rs. According to sources in the Ministry of Energy, the IMF recommended fixing the electricity tariff based on the next year’s value of the rupee, saying that by June next year, the rupee would have lost 18 percent of its value and the value of the rupee against the dollar would be Rs 329. will roar. But it was not clear what value the IMF has recommended for setting the electricity prices.
Sources say that in the meeting with Nepra, the IMF also questioned the wrong assumptions of electricity consumption used for the annual power tariff adjustment. Due to the huge increase in bills, Pakistan told the IMF that electricity prices could skyrocket in July due to monthly, quarterly and annual adjustments.
It should be noted that the IMF team will remain in Islamabad till May 23 to evaluate the will power of the government. Domestic consumers are already paying up to Rs 62 per unit, increasing the trend of citizens shifting to alternative sources of energy.
Sources say that the Pakistani authorities have admitted to the IMF that the target of revolving credit may fail by a margin of 138 billion rupees. However, it has been assured that 20 billion rupees will be recovered from the public through quarterly adjustments and thus efforts will be made to limit the revolving debt to 2.430 thousand billion rupees.
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