On Wednesday, the PTI-led federal government of Pakistan has decided to increase the price of the power and gas. Government took this decision after the IMF took a stand on its demand for decisive measures from Pakistan to get a bailout package.
As per the details, the government of Pakistan has accepted the demands of the International Monetary Fund (IMF) and decided to increase the rates of the power and gas in the country.
The details further said that the government of Pakistan showed its agreement to make the National Electric Power Regulatory Authority (NEPRA) an independent body for making decisions regarding the price of electricity. In the sectors of gas and power, the taxes worth Rs340 billion will be collected during the period of next three years.
The government of Pakistan has also decided to withdraw the subsidy form all, except the domestic consumers of the country, a limited amount of subsidy will be given to the export industry of the country.
The details further said that the Oil and Gas Regulatory Authority (OGRA) will be made independent in determining the prices of gas.