ISLAMABAD, May 27(ABC): Government will be increasing electricity prices by Rs. 7 to meet the demands on International Monetary Fund (IMF).
According to sources privy to the matter, the hike of Rs. 7 in electricity prices would include an increase in basic tariff and fuel adjustment charges.
The hike in power tariff will be applicable from July 1.
Moreover, the IMF has also suggested the government to immediately privatize the profitable electricity distribution companies.
Earlier on IMF’s conditions, government has increased the fuel prices in the country. Following Rs. 30 per liter increase in price of petrol, the new price is Rs. 179.86.
It should be noted that the government is further planning to increase the fuel prices in the same ratio in next 15 days in a bid to achieve the IMF program.