IMF conditions, the bills of low gas consumers are also likely to increase

New conditions have been imposed by the International Monetary Fund (IMF) for getting a new loan due to which there are fears of rising prices even for the protected category, which consumes least gas.

In order to get a new loan program of 8 billion dollars from the IMF, the government of Pakistan will have to end the subsidy of 100 billion rupees given to protected gas consumers and submit a report to the IMF.

According to Khalid Mustafa’s report published in ‘Jang’ and ‘The News’, 29 billion rupees subsidy on RLNG will also have to be removed by June.

The report states that measures to prevent the increase in circular debt on gas will also have to be informed to the IMF.

The IMF wants the government to stick to Ogra’s half-yearly commitments on gas prices to prevent spiraling debt.

The government will have to submit an audit report of Sui Southern to the IMF by June 2024 and explain why it is making losses and why it has become a loss-making entity.

The Energy Ministry will also have to submit a plan to the IMF to control the revolving debt in the gas sector, which currently stands at Rs 29 trillion.

The government will have to submit this plan to reduce the revolving debt to the IMF by June 2024.

The IMF wants the weighted average cost of gas (WACOG), which the government has mandated for revenue generation for gas companies, to also charge domestic consumers the cost of bringing it to RLNG. go

The IMF also wants the gas subsidy for the fertilizer sector to be removed from February 1, 2024, but the government has said that it will only sell 3 fertilizer plants of Fuji Fertilizer and 2 plants of Fatima Fertilizer. For Mari Petroleum will end the cheap supply of gas in the future.