Economic crisis in Pakistan: After fuel hike, Sharif-govt hikes electricity prices by Rs 7
Zee News
The Pakistani government is increasing electricity prices by Rs 7 per unit, in yet another setback to the common man in the country.
New Delhi: The Pakistani government has decided to hike the electricity prices by Rs 7 besides privatization of profitable public-owned DISCOs, ceding to the demands of the International Monetary Fund for the release of a $1 billion tranche of the loan. The move comes after IMF expressed concern over the Rs 2,600 billion power tariff. The Fund had suggested the government immediately privatize the public-owned profitable DISCOs, reported ARY News. Keeping in mind the debilitating state of loss-making DISCOs, the fund advised the handover of these DISCOS to the provinces.
"The hike in power tariff will be applicable from July 01," said the sources privy to the matter. According to them the hike of Rs 7 in electricity prices would include an increase in basic tariff and fuel adjustment charges.
Meanwhile, the Trade and industry leaders of Pakistan have slammed the Shehbaz Sharif government for increasing the petrol and diesel prices by PKR 30 per litre causing a surge in the cost of production in the country.
Zubair Motiwalla, from the Chairman Businessmen Group of Pakistan(BMG), has anticipated a surge in production cost by 5-7 per cent due to the increase in petroleum price, reported Dawn newspaper.
He added that the rise in petroleum rates will heavily impact the retail prices of goods, making the lives of the common man more miserable owing to the rising cost of living."The jump of Rs 30 per litre in petrol and diesel will be difficult for the people and the industry to absorb," Dawn newspaper quoted Motiwalla saying.
