IMF rejects Ministry of Energy’s 3-year marginal energy package
The Ministry of Energy’s suggested three-year marginal energy package for companies was turned down by the International Monetary Fund (IMF) on Thursday.
Sources claim that Ministry of Energy representatives were unable to persuade the IMF to accept the minimal energy plan. A revamped package with fresh recommendations will be offered in the upcoming round of economic review negotiations.
Additionally, according to sources, the planned energy package was designed for the industrial, data mining, and artificial intelligence sectors over a three-year period based on marginal cost. Given that the nation now has 8,000 megawatts of excess electricity, the package was created. Reducing tariffs on electricity used in excess of ordinary consumption was proposed.
Sources claim that the Ministry of Energy’s failure to attain 100% recovery (of dues) was the reason the IMF rejected the plan. Only the production cost and capacity costs would be applied to the increased electricity demand under the proposed plan; all other fees, including taxes, were to be eliminated.
According to sources, the IMF has connected reaching a 100% recovery to the ratification of the marginal energy plan.
