National

The Government Agrees to Increase Electricity and Gas Prices

In the terms of IMF, a condition was to increase the electricity and gas prices and the Government has agreed to it.

ISLAMABAD: The IMF has set some conditions for the bailout package for the Pakistani Government and the Government has shown its consent to increase the electricity and gas prices. According to the IMF’s conditions, the Government should impose Rs 700 billion in taxes on the people in the upcoming budget. However, the government has shown interest in imposing Rs 500 billion in taxes.

So, the public will face rising prices of electricity and gas in the next three years. Since the Government is levying new taxes on the people, it will collect more Rs 340 billion. That shows the consumers will have to bear an additional burden of Rs 114 billion.

The discussion between the IMF and the Government has entered the final phase. Once all the terms are set, the new governor of State Bank, Reza Baqir will take hold of the State Bank.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button