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July 4, 2020
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Oil prices relief will not be given to power consumers: Govt assures IMF

ISLAMABAD:  Finance Minister Ishaq Dar has assured International Monetary Fund (IMF) not to decrease electricity prices in wake of reduction in oil prices, government document said.

The document said that the Minister assured the IMF that it will not provide relief to masses by decreasing electricity prices after reduction in petroleum prices.

The government said that decrease in petroleum prices will be adjusted by slashing subsidy on power tariff.

The government also assured the IMF that gas prices will be increased from start of next year adding that 14 to 16 percent rates of gas prices will be raised.

The Minister also has given assurance to IMF that no subsidy will be given on imported Liquefied Natural Gas (LNG). The government has said to the IMF that in this regard law will be presented in the Parliament till March next year.