Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb has revealed that the government is intends to further reduce electricity tariffs by July or earlier this year.
As part of government’s initiative to provide economic relief to the masses, the Finance Minister highlighted that a comprehensive relief programme will be included in the next federal budget.
Senator Aurangzeb did not specify the details of the relief programme regarding the electricity tariffs; however, he stated that the government would apprise the International Monetary Fund (IMF) before the programme is publicised.
According to details given by the finance minister, the budget is being made by taking all private stakeholders into confidence.
“By July 1, the budget will be enforced in its final form. After that, no changes will be made to ensure timely and effective implementation,” clarified Muhammad Aurangzeb.
He added that stakeholders would be informed beforehand which of their proposals could not be implemented in the upcoming federal budget.
The finance minister expressed hope that the IMF Executive Board will approve the staff-level agreement by May, releasing the next tranche of $7 billion loan Pakistan secured last year.
He agreed that there have been some delays in IMF’s loan due to some missed targets, saying, “Those delayed targets have also been fulfilled.”
Electricity tariffs reduced
The National Electric Power Regulatory Authority (Nepra) yesterday sent the summary to federal government regarding cut in electricity tariffs. The reduction in electricity prices will be for consumers across the country, including K-Electric.
Earlier this month, Prime Minister Shehbaz Sharif announced a significant decrease in electricity tariffs across the country.
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