International Monetary Fund (IMF) has come up with new conditions of reforms in energy sector bound for the sixth and seventh tranches of standby arrangement (SBA), Geo News reported Sunday.
The IMF demanded to put an end to power line losses by December and demanded to raise the power tariffs twice by June of the current fiscal year.
The sources privy to Finance Ministry told Geo News that the IMF meeting ending in the first week of September, stressed on reforms in energy sector.
The Fund also demanded to abolish Pakistan Electric Power Company (PEPCO) and put an end to the discounted power supply to the employees of Wapda and other distribution companies.
It was also demanded of Pakistan that two distribution companies should be privatized by the end of current fiscal year.
After the required reforms, the remaining deficit in energy sector should be made up with twice-raised power tariffs.
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