LAHORE MIRROR — Pakistan has formally engaged with the International Monetary Fund (IMF) in a bid to alleviate the burden on the public with regards to electricity bills.
The Interim Finance Minister, Shamshad Akhtar, engaged in a virtual discussion with IMF representative Esther Perez Ruiz, during which potential strategies were discussed and the IMF requested a detailed written proposal.
Ministry of Finance insiders revealed that the discussions primarily centered around providing relief in electricity bills. The conversations included shedding light on the aftermath of the recent surge in power bill rates.
The Ministry sources further disclosed that a range of suggestions aimed at offering relief in electricity bills were presented to the IMF for consideration.
Pakistan’s stance on seeking relief in electricity bills was elucidated to the IMF during the briefing. The IMF, in turn, has expressed the need for a comprehensive written plan outlining the proposed relief measures.
According to sources within the Finance Ministry, the written plan is anticipated to be shared with the IMF by the end of the day.
In addition to discussions on electricity bill relief, the virtual dialogue with the IMF also involved an assessment of the Federal Board of Revenue’s (FBR) performance during the initial month of the current fiscal year. FBR sources conveyed that taxes amounting to Rs538 billion were collected in July, surpassing the monthly target by Rs4 billion.
The FBR’s performance was reviewed by the IMF, which commended the bureau for its successful achievement of the tax collection target.
In seeking to mitigate the financial impact on the public, Pakistan’s engagement with the IMF underscores its commitment to finding practical solutions and ensuring economic stability.
