The World Bank has set strict conditions for a new loan of ایک 1.5 billion for Pakistan.
The World Bank has set strict conditions for providing new loans worth Rs1.5 billion to Pakistan, including raising electricity prices, introducing new policies on energy and taxes.
Experts say the World Bank’s conditions have put the government in trouble, which is already seeking a new loan from the International Monetary Fund (IMF).
Sources told The Express that the government needs 1 1.5 billion in electricity support before the end of June, and recently resigned Finance Minister Hamad Azhar chaired a meeting. The new World Bank loan and its terms were considered.
The conditions set by the World Bank are already part of the IMF program, which was reviewed three weeks ago by the IMF and the government, and the government now intends to renegotiate. Shaukat Tareen, the newly elected Finance Minister, has made it clear that he will renegotiate with the IMF.
Sources said that in case of approval of a loan from the World Bank, the government of Pakistan will have to increase electricity prices by Rs39 paise per unit in June and Rs2.21 per unit in July.