IMF asks govt to halt additional power production
Business
Global lender sees country's salvation in truncating financial losses
ISLAMABAD (Zeeshan Yousafzai) – Coercing Pakistan to conform to its grinding demands, the International Monetary Fund (IMF) has asked the government on Tuesday to halt additional production of electricity.
Sources told Dunya news that the government had planned to enhance power capacity to a staggering 50,000MW till 2025, but IMF has now intervened to put a full stop on the government’s plan of ambitious power generation.
According to the sources, the global lender has asked the government to shrink financial losses instead of boosting an already boosted power sector, noting that current transmission system could not bear further power losses.
Moreover, the IMF has also stressed the government to step up efforts to bring down electricity prices, suggesting that abrupt changes in power prices should be avoided, instead timely announcements of price fluctuations be made necessary.
