Nationwide Shutter down
ISLAMABAD: Thousands of traders observed a nationwide shutter down strike across the country to denounce the significant increase in electricity tariffs.
The caretaker government expressed its inability to offer relief to masses.
The infuriated citizens have been staging protests nationwide for the past six days. They’ve taken to burning electricity bills in their demonstrations.
Numerous traders’ associations in cities have initiated a shutter-down strike to exert pressure on the government for bill relief.
Meanwhile, the caretaker Prime Minister had assured the public that the government would explore potential solutions for relief.
However, no immediate remedy has been forthcoming from the authorities.
Moreover, Finance Minister Dr. Shamshad Akhtar explained the constraints around reducing taxes on inflated electricity bills. She said the fiscal situation is so entangled within the IMF that no funds are available for subsidies.
She delivered a somber economic and financial outlook during a briefing to the Senate Standing Committee on Finance.
Notably, parliamentarians strongly criticized the economic policies, recounting the power consumers hardship due to exorbitant bills.
“I have inherited the IMF program, bound by structural benchmarks signed by the previous government. It’s not the IMF that concerns me, but rather the political and economic stability of the country. We have no choice but to continue with the IMF program. It will maintain inflows of dollars from bilateral partners, which are tied to the IMF program,” Dr. Shamshad explained.
Meanwhile, Pakistan has presented a relief plan to the IMF for electricity consumers facing inflated bills. The plan assures that none of the Fund’s agreed-upon targets will be violated.
The new budget includes an emergency allocation of Rs250 billion, which could be utilized to provide relief to power consumers.
Convincing the IMF of the proposed relief package might take additional time. Also, the relief potentially limited to those using up to 400 units.
Billing staggered over time and reduced bills for protected consumers could also be implemented using the allocated funds.
