IMF ask Pakistan to provide written emergency plan for electricity bill issue

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As nationwide protests continue, the International Monetary Fund (IMF) requested Pakistan on Wednesday to submit its written proposal for reducing electricity costs.

The change occurred as a result of the caretaker government’s decision to wait to announce any consumer relief until it had received lender approval.

Anwaarul Haq Kakar, the interim prime minister, presided over a meeting of the federal cabinet on Tuesday to discuss possibilities but no decisions were made.

The Power Division presented its ideas to the authorities, but it was decided that the lender should be considered first due to the tight IMF loan restrictions.

Islamabad pledged to strict financial discipline during the initiative and had inked a $3 billion loan arrangement with the Fund in July.

The former government of the Pakistan Democratic Movement approved a significant increase in electricity costs as part of the bailout package, which is now reflected in the bills.

According to the reports, Finance Minister Shamshad Akhtar and IMF envoy Esther Perez had a virtual meeting as per cabinet directions to explore relief measures.

They were given an update on the circumstances as protests across the nation continue unabatedly.

The Pakistani team offered a number of suggestions for reducing electricity costs, but the IMF officials requested the relief plan in writing, which will be provided to them today, according to the reports.