Islamabad [Pakistan], August 31 : Amid stringent International Monetary Fund (IMF) restrictions, traders from throughout Pakistan joined protesters in a demonstration against a significant increase in electricity tariffs on Thursday, ARY News reported.
Angry citizens have been protesting around the nation for the past six days, setting power bills on fire and calling for the government to reverse the tariff increase.
The public, who are already suffering from out-of-control inflation, are furious. Numerous trade associations are participating in a shut-down strike in a number of towns, including Rahim Yar Khan, Sukkur, Bahawalpur, Quetta, Vehari, and Peshawar, in an effort to persuade the government to reduce the costs of the bills, ARY News reported.
Caretaker Prime Minister Anwaar-ul-Haq Kakar had informed the populace that the government would look into possibilities to provide relief after learning about the demonstration, but up to this point, the authorities have been unable to come up with an urgent fix.
According to ARY News, Caretaker Finance Minister Shamshad Akhtar told senators on Wednesday that the budgetary situation was so constrained by the IMF deal that there was not a single penny in the treasuries for providing any subsidies while demonstrating his inability to reduce taxes on skyrocketing electricity rates.
“I have inherited the IMF programme, tied up under structural benchmark, signed by the predecessor government. It’s not the IMF about which I am worried, but I am worried about the political and economic stability of the country. There is no other choice but to continue with the IMF programme for keeping dollar inflows intact from bilateral partners, which is totally tied up under the IMF programme,” Shamshad said, according to ARY News.
According to The News, Pakistan has assured the IMF that none of the Fund's agreed-upon benchmarks will be missed while also sharing its plan for relieving power consumers of their high electricity rates.
Convincing the IMF of the planned relief package, which would only be available to individuals consuming up to 400 units, may require some more time.
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