The International Monetary Fund (IMF) has rejected the government’s relief plan for electricity bills. According to the sources, the plan to recover the bills in installments will be discussed again with the IMF.
According to sources in the Ministry of Finance, the plan had indicated that the relief in electricity bills would have an impact of just over 6 billion rupees. However, the IMF rejected the plan, stating that it would have an impact of more than 15 billion rupees.
Sources indicate that the IMF has also demanded a plan to fulfill the 15 billion rupees’ fiscal gap.
According to sources, discussions with the IMF are delayed due to the need to share the new plan. Once the new plan is shared, IMF officials and the Ministry of Finance will engage in discussions again.
It is reported that to provide relief in electricity bills, the IMF has been assured that there will be no budgetary shortfall. A request has also been made to the IMF to release funds to cover the bills within 4 months.
According to the sources, the plan to recover the bills in installments will be discussed again with the IMF.
