ISLAMABAD: International Monetary Fund (IMF) is said to have allowed Islamabad to pass on savings made through revision or termination of pacts with the Independent Power Producers (IPPs) to the consumers especially the industry.
Prime Minister, Shehbaz Sharif held a meeting the Managing Director IMF, Kristalina Georgieva in UAE and shared the government’s economic performance. “Wonderful meeting with PM Shehbaz Sharif and his team. I am encouraged by their strong commitment to Pakistan’s IMF-supported reforms and support their decisive actions to pave the way to higher growth and more jobs for Pakistan’s youthful population,” said MD IMF, in her tweet.
Sources told Newzshewz that Prime Minister had taken Power Minister, Awais Leghari and Secretary Power with him to Dubai to brief MD IMF on the savings from the revised or terminated pacts with IPPs and talks with Chinese IPPs on re-profiling of debts in addition to talks with provinces and FBR on shifting of taxes of Rs 300 billion from electricity bills to other account.
Mr. Sharif has already directed Power Division to cut electricity tariffs by Rs 7 per unit for all consumer categories, including the industrial sector across the country including Karachi following due consultations with the International Monetary Fund (IMF).
“Industry Is very upset. We had been promised tariff relief of Rs 10/unit from last Sep/Oct 2024 and Feb 2025 has reached and still practically nothing,” said, Aamir Sheikh an industrialist from Lahore. On February 12, 2025, an official of CPPA-G informed the audience during a public hearing at NEPRA that the government is working on measures to reduce consumer end tariff, adding as these measures are cleared relief will be passed on to the consumers.
During brief to the Cabinet about national economy, the Prime Minister said Pakistan is taking off for economic growth after attaining macroeconomic stability. He also the tireless efforts of the government’s economic team for achieving the milestone of macroeconomic stability.
The Prime Minister said the government is also taking effective measures and making untiring efforts to speed up journey towards achieving the goal of economic growth. Talking about his meeting with the IMF Managing Director, Shehbaz Sharif said the MD IMF lauded the efforts of the government of Pakistan for revival of economy.
