IMF expresses no confidence in electricity distribution companies

The International Monetary Fund (IMF) has expressed disbelief on the performance of electricity distribution companies in Pakistan.

The technical talks between the IMF and the government continued for the third day today, after the completion of the technical talks, the policy talks will begin.

During the talks, the IMF has expressed serious concern over the failure of the DISCOs to collect 100% of their bills and has demanded the government to ensure the collection of electricity bills by the DISCOs.

The International Monetary Fund also called for an end to electricity tariff subsidies and an end to industrial sector tariff subsidies.

IMF says that the elimination of revolving debt is not possible without 100% collection of bills and improving the performance of government companies.

The International Monetary Fund has also called for setting up of a task force for prevention of corruption and effective accountability, declaration of assets of officers of grade 17 and above and their families.

Secretary Petroleum gave a briefing to the IMF delegation in the meeting of the IMF team with the Petroleum Division today.

The IM delegation stressed on reforms in the gas sector while also expressing concerns over the revolving debt of the gas sector, the revolving debt of the gas sector is around 1550 billion.

IMF demanded that Pakistan balance the gas prices, IMF also emphasized to stop gas theft and other technical losses.