The government has assured the International Monetary Fund (IMF) of transparency in the operation of the Special Investment Board (SIFC).
According to details, talks are ongoing between Pakistan and HPG for a new rescue package, while the HPG mission is now visiting Pakistan in two weeks.
The International Monetary Fund has ensured transparency in SIFC’s operations, sources said, adding that investments will be made in accordance with the Common Investment Management Framework.
According to sources, there will be no unequal investment opportunities, incentives or promises of guarantees resulting from this forum.
Finance Ministry officials have assured HPG that the investment environment in the country will not be disrupted and that transparency procedures will be adopted in line with international standards for SIFCs.
The HPG has also assured to improve the efficiency of the Central Control Unit.
Earlier, the Ministry of Electricity had assured HPG that it would increase the base tariff of electricity, which indicated that electricity prices in Pakistan would rise. According to the ministry, the increase in basic electricity prices will take effect from July 1 and will affect consumers across the country.
The base tariff will increase following a multi-year tariff revision by the National Electricity Regulatory Authority (Nepra). The Department of Energy announced that retail electricity prices are expected to increase by $7 per unit.
Sources indicate that the national average will increase significantly from 29 to 36 per unit. This amendment is expected to affect all electricity consumers except residential consumers who currently benefit from the subsidized tariff structure.
