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Mettis Global News
Mettis Global News
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Gas and electricity prices likely to go up as Government caves into IMF demands: Sources

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May 08, 2019 (MLN): The government has, according to sources, accepted one of the demands made by the IMF to remove subsidies on gas and electricity.

The government has decided to do away with subsidies amount to Rs.340 Billion over three years.

Removing subsidies and therefore increasing the prices of utilities was one of the demands made by the IMF.

However, these subsidies will not affect end for life line consumers and export related industries will continue to get them.

According to sources, OGRA and NEPRA will act as independent bodies to determine and fix tariffs.

 

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Posted on: 2019-05-08T19:35:00+05:00

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