The government is likely to raise the retail power price once again by June, aiming to comply with the International Monetary Fund's (IMF) condition of shedding the subsidy burden. Retail power price was hiked three times this year, each time by five per cent.
According to the IMF’s loan conditions, subsidy should be reduced in the fiscal year 2023-24. Despite several measures taken by the government, subsidy still remains more than what was stipulated by the IMF, and so the power tariff has to be adjusted again before the budget.
This information was disclosed by the finance ministry during a meeting with the IMF staff mission on Wednesday.
