Minister says no talks held with IMF regarding electricity rate hike

Business May, 17 2024
Minister says no talks held with IMF regarding electricity rate hike
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ISLAMABAD: Power Minister Awais Ahmad Khan Leghari clarified that no talks were held with International Monetary Fund (IMF) regarding increase in electricity prices. In message posted on X, he labelled news of an increase in power tariff as “Misinformation”.

He said that discussion focused on power division reforms plan that was aimed at enhancing power sector and boosting economic revival. Minister issued clarification regarding government’s plans to impose taxation on solar net metering. He told media that there was any plans of government to impose taxation on solar net metering. “Government will not withdraw its regulations related to net metering for already installed solar systems”, he said.

However, Minister said, matter could come under consideration in next few years as net metering could lead to fiscal losses and increase in circular debt. Net metering is billing tool that allows consumers to send excess energy generated by solar panels to local grid in exchange of credits to monthly electric bills.

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