ISLAMABAD
\nIn a significant development, the International Monetary Fund (IMF) has given the green light to a relief plan of Rs 15 billion which aimed to give financial relief to electricity consumers in Pakistan.
\nSources close to the matter revealed that the Federal Board of Revenue (FBR) played a pivotal role in securing this relief from the IMF, adding that the FBR has exceeded expectations by collecting an impressive amount of Rs 20 billion in excess taxes.
\nThe IMF\u2019s decision to grant the relief of Rs15 billion \u2013 aimed at relieving the financial burden on electricity consumers \u2013 is a testament to the commendable performance of the FBR.
\nIt underscores the tireless efforts of key figures in the caretaker government, including Caretaker Prime Minister Anwarul Haq Kakar, Caretaker Finance Minister Dr. Shamshad Akhtar, and Caretaker Energy Minister Muhammad Ali.
\nThe relief package is expected to provide substantial benefits to consumers with up to 200 units of electricity consumption. Sources suggest that consumers falling within this category can anticipate relief ranging from Rs 3 to Rs 4 per unit on their electricity bills.
\nFurthermore, there will be provisions for delayed payments, ensuring that these consumers do not face penalties for late payments. However, the IMF set a condition that the consumers exceeding 400 units of electricity consumption will not be eligible for this relief.
\nSources claimed that the final approval for deferred payments and the relief package will be granted by the Federal Cabinet. It is pertinent to mention here that the relief in electricity bills will be applicable exclusively to bills for the month of August.
\nSources estimated that from this relief at least 64 per cent of those using up to 200 units of electricity across the country will get benefited, moreover, the late payments of the consumers falling in the category will not get the usual 10 per cent penalty.
\nEarlier to this, the caretaker government in its communication with the International Monetary Fund (IMF) has suggested a new relief plan for electricity bills. The government has decided to utilize over Rs 15 billion allocated for the independent power producers (IPPs), to offer relief on the inflated electricity bills, sources said.
\n\u201cThe finance ministry has dispatched fresh relief proposal for electricity bills to the IMF,\u201d according to sources. \u201cOver Rs 15 billion were additionally allocated for payment to the IPPs in current fiscal year\u2019s budget,\u201d sources said. \u201cThis amount can be adjusted to provide relief on bills,\u201d sources added.
\n\u201cThis over Rs 15 billion will be allocated for the IPPs after recovery of installments of bills,\u201d sources said. \u201cThe finance ministry officials will hold talks with the IMF on the new plan, in which the lender will be assured of not providing relief out of the budget parameters,\u201d sources added. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD In a significant development, the International Monetary Fund (IMF) has given the green light to a relief plan of Rs 15 billion which aimed to give financial relief to electricity consumers in Pakistan. Sources close to the matter revealed that the Federal Board of Revenue (FBR) played a pivotal role in securing this relief […]<\/p>\n","protected":false},"author":2,"featured_media":354454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-354434","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n