Caretaker setup will not violate IMF program: minister

ISLAMABAD: Caretaker Federal Minister for Energy and Power Muhammad Ali said that violation of the International Monetary Fund’s (IMF) program is out of the question.

The caretaker minister said that reforms will have to be done and circular debt will have to be dealt with, but the problems will not be solved overnight. He said that the interim government is aiming to put minimum burden on the public.

However, he candidly acknowledged that the administration is bound by the stringent conditions set forth by the IMF program.

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He emphasized, “Our current alignment with the IMF program dictates that any alterations in the exchange rate between the US Dollar and the Pakistani Rupee will inevitably trigger corresponding adjustments in electricity tariffs.”

The minister said that hike in the price of dollar leads to increase in the price of petrol, which is only one of the many reasons of power sector woes. He highlighted the issue of electricity theft as well.

The minister maintained an optimistic outlook, assuring that the interim government has been sworn in since only two weeks, but visible transformations are on the horizon within a mere two-month timeframe. “We are resolute in our efforts to rectify the prevailing issues,” he affirmed.