LAHORE, Sep 10(ABC): Federal Finance Minister Miftah Ismail on Saturday admitted that the government was generating Rs 59 per unit of electricity in June.
Addressing the industrialists at the Lahore Chamber of Commerce, Miftah said that the country is moving towards improvement, adding that the incumbent government has doubled the power generating capacity. Previously, there was a capacity to generate 12 thousand megawatts of electricity, and the circular rate of electricity is 2500 billion rupees. The circular rate of gas is 1500 billion rupees. The government of Pakistan was generating electricity at Rs59 per unit in June.
“Currently the country is facing many problems, adding that the world does not give you loans anymore, it does not even want to give, the price of furnace oil and coal has increased by a record, due to the increase in the price of furnace oil and coal, the price of electricity has increased. Since 2010, revolving loans have been ongoing, “he added.
Mifath added that many people said that the government should not take over, adding that they thought that the IMF would not cooperate if a caretaker government came in.