• Lender sanctions mere Re1 reduction in power rates, much lower than govt claim of Rs8 per unit relief
• Proposed easing of electricity costs may take months to materialise due to IHC stay order, regulatory hurdles
• Federal cabinet approves additional Rs10 per litre petroleum levy on petrol, diesel

ISLAMABAD: As more details unfold about the staff-level agreement, the International Monetary Fund (IMF) on Thursday disclosed that it had allowed only a Re1 per unit reduction in power tariff against a grid levy imposed on industrial captive power plants.

However, on the same day, a bench of the Islamabad High Court (IHC) stayed this move for over a month.

“The programme allows some explicit tariff differential subsidy and revenue from CPP (captive power plants) firms can be used for reducing Rs1 per kWh (kilowatt-hour) electricity price. The benefit of the reduction in the prices will go to everyone,” IMF Resi­dent Representative in Islam­­abad Mahir Binici told journalists on Thursday.

This apparently did not support claims by some cabinet members and government officials about a Rs8 per unit reduction in power tariff — still a wish list on paper and subject to various procedural and regulatory processes,........

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