The Water and Power Development Authority (Wapda) has proposed an appraisal session with Prime Minister Shehbaz Sharif in presence of Ministers for Finance, Water Resources and Planning, Development and Special Initiatives
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Finance Minister Ishaq Dar on Thursday announced that the federal budget for fiscal 2024 would be presented on June 9 and insisted that Pakistan would not default on any foreign liability, with or without an IMF programme.
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THE government has told the International Monetary Fund (IMF) it would not implement a fuel subsidy programme as the two sides negotiate a long-delayed $1.1 billion bailout for the country, Bloomberg News reported on Thursday.
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The Ministry of Finance has refused to pay for the cost of inefficiency or for clearing arrears of the China-Pakistan Economic Corridor (CPEC) energy projects and has instead proposed subsidies worth over Rs975 billion for the power sector, 37% less than the money demanded.
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Karachi residents are set to face a significant financial burden, as the National Electric Power Regulatory Authority (NEPRA) has permitted K-Electric to levy an extra charge of Rs3.9342/unit on consumers in May 2023 for monthly Fuel Charges Adjustments (FCA) for March 2023.
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