The government has assured the IMF to increase the cost of electricity

Islamabad: The IMF has been assured by the government to increase the cost of electricity.

The International Monetary Fund (IMF) Review Mission’s third round of talks with Pakistan is underway, with the Ministry of Energy assuring an increase in electricity prices by Rs 7 per unit.

According to the sources, the basic price of electricity is likely to increase by Rs 7 per unit. In this regard, the basic tariff will increase after Nepra increases the multi-year tariff, under which the minimum national average tariff can be increased from Rs 29 to Rs 36.

Sources say that electricity is likely to be expensive for all slabs except Lifeline consumers. At present, the basic cost of electricity for Lifeline customers with 50 units is Rs 3.95 paise per unit. The basic tariff for customers with 51 to 100 units is Rs 7 74 paise per unit.

The increase in basic price of electricity is expected to be implemented from July 1.

Besides, FBR reforms, exchange market reforms and other issues are under consideration in the ongoing negotiations on the third day. Meanwhile, the IMF authorities have also been informed about the merger of subsidiaries of B category exchange companies into exchange companies.

During the talks, the IMF was given a detailed briefing on the government’s measures to prevent trafficking. On this occasion, the amendments in the tax laws in the budget of the next financial year were also discussed.

In the meeting, a briefing was also given regarding the introduction of new valuations in the real estate sector and bringing retailers into the tax net, including the point of sale.