Pak: Sharif govt imposes surcharge on electricity; Pakistanis reel under rising cost of living

Cash-strapped Pakistan has surrendered to another IMF demand to unlock the bailout package. Shehbaz Sharif government has imposed a surcharge of up to PKR 3.23 per unit on electricity across the country with effect from July 1, according to Pak media. The Dawn reported that Sharif government aims to generate PKR 335 billion in revenue from the extra surcharge next fiscal year to finance power sector’s liabilities. Earlier, Pak govt approved a PKR 3.39 per unit additional surcharge for current fiscal year. Pakistan has a PKR 800 billion debt parked in the power holding private limited.