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Islamabad: The International Monetary Fund (IMF) has stipulated that a duty of 662 billion rupees should be collected from K Electric.
According to the details, a new condition of the IMF has been revealed for the elimination of the revolving debt, the International Monitoring Fund has set a condition for the collection of 662 billion rupees of duty of K Electric.
The International Monetary Fund has stipulated that the government must pay K Electric in the current financial year, the finance ministry and the power sector must fulfill this condition by June 30, 2023.
The document states that K Electric has not paid the electricity purchase amount from the national grid since 2018.
According to the IMF, gas prices are likely to rise
IMF has expressed concern about the transmission of electricity without contract and payment to K Electric, by June 2022, K Electric has liabilities of 490 billion rupees, electricity liabilities will increase by 172 billion rupees in the current financial year.
According to this document, the federation must sign a new electricity sales contract with K Electric by June 30, 2023.