ISLAMABAD: The International Monetary Fund (IMF) has rejected the electricity bill relief plan proposed by the caretaker government.
According to sources from the Ministry of Finance, the plan estimated that the relief in electricity bills would have an impact of less than 6.5 billion rupees. However, in rejecting the plan, the IMF asserted that the impact would exceed 15 billion rupees.
Sources also indicate that the IMF has requested a comprehensive strategy to secure the necessary 15 billion rupees.
It is reported that the plan will need to be revised and resubmitted to the IMF, causing a delay in the process. Once the updated plan is shared, discussions between IMF officials and the Ministry of Finance will resume.
Sources have revealed that the IMF has been assured that the relief in electricity bills will not lead to a budget deficit, and there has been a request for a four-month window for bill settlement.