Relief in electricity bills: Federal cabinet to seek nod from IMF,
ISLAMABAD– Finance Minister Dr Shamsad Akhtar has said that there is no room to provide additional subsidies in IMF agreements.
Addressing the media after the committee meeting, Dr Shamsad Akhtar emphasised that the government is aware of the plight of the country’s poor population and that further burdening the underprivileged segment of society is not an option.
Dr Akhtar pointed out that the subsidies included in the IMF agreements were already established by previous governments, and there is no room for further subsidies in these agreements.
The finance minister went on to say that the government is planning for economic stability and is working on practical measures to improve the economy.
He stated that actions were being taken to strengthen the economy in such a way that the exchange rate of the Pakistani rupee remains stable against the US dollar, as part of efforts to bolster economic stability.
This announcement from the Finance Minister sheds light on the government’s stance regarding subsidies in IMF agreements, reaffirming its commitment to economic stability and the welfare of the country’s citizens.
She highlighted that the current administration was planning to craft a comprehensive strategy aimed at bolstering the nation’s economic health.
The minister pointed out that the government was making efforts to stabilise the exchange rate between the national currency, the rupee, and the US dollar.
The finance minister’s statement comes as Pakistan remains plagued by the inflated cost of living, particularly exorbitant electricity prices that have forced residents to take to the streets across the country.
A day earlier, the federal cabinet failed to make a decision to provide relief on inflated electricity bills to the masses.
According to sources, the meeting headed by caretaker Prime Minister Anwarul Haq Kakar concluded without taking any decision on providing relief on inflated electricity bills.
Sources said that in the federal cabinet briefing, it was discussed that the IMF agreement should be consulted on this matter as it is the main hurdle in giving relief to the masses on electricity bills.
Meanwhile, Energy Minister Muhammad Ali met the Caretaker Prime Minister (PM) Anwaarul Haq Kakar and discussed the overall situation after the nationals received inflated electricity bills. They held consultations on options to provide relief to the power consumers.
The caretaker premier summoned another session which was attended by the representatives of the Ministry of Water and Power and power distribution companies.
On Sunday, Caretaker PM Anwaarul Haq Kakar gave a 48-hour deadline for the formation of a strategy amid mounting public outcry over electricity price hikes.
Earlier a day ago,
The caretaker federal cabinet has decided to seek nod from the International Monetary Fund (IMF) for providing relief in the electricity bills for the power consumers in Pakistan, ARY News reported on Tuesday.
Caretaker Federal Minister for Information and Broadcasting Murtaza Solangi said in a statement that the caretaker finance minister Shamshad Akhtar is taking the IMF on board regarding the relief for the power consumers.
He confirmed that the caretaker finance minister is holding talks with the IMF. He added that the caretaker set-up to get the IMF in confidence for making some decisions.
Solangi said that the caretaker government will make decisions regarding the electricity bills within a few hours after taking the IMF on board.
Earlier in the day, the federal cabinet failed to make a decision to provide relief on inflated electricity bills to the masses.
According to sources, the meeting headed by caretaker Prime Minister Anwarul Haq Kakar concluded without taking any decision on providing relief on inflated electricity bills.
Sources said that in the federal cabinet briefing, it was discussed that the IMF agreement should be consulted on this matter as it is the main hurdle in giving relief to the masses on electricity bills.
Yesterday, Energy Minister Muhammad Ali met the Caretaker Prime Minister (PM) Anwaarul Haq Kakar in which they discussed the overall situation after the nationals received inflated electricity bills. They held consultations on options to provide relief to the power consumers.
The caretaker premier summoned another session which was attended by the representatives of the Ministry of Water and Power and power distribution companies.
On Sunday, Caretaker PM Anwaarul Haq Kakar gave a 48-hour deadline for the formation of a strategy amid mounting public outcry over electricity price hikes.
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