IMF not called for renegotiation of energy agreements under CPEC

ISLAMABAD, June 16 ( Alliance News): Esther Perez Ruiz, a representative of the International Monetary Fund (IMF), has clarified that the IMF is free from Pakistan.

China has not asked for renegotiation of energy agreements reached under the Economic Corridor (CPEC).

This statement was made by Esther Perez Ruiz in a statement which did not specify the response.

A report published in section of media last week said that the IMF had asked Pakistan to renegotiate energy deals under C-Pack before making payments of about Rs 300 billion to Chinese power plants. Do

The report quoted sources as saying that “the IMF has asked the government to adopt a strategy similar to the power plants established under the 1994 and 2002 power policies for C-Pac power plants”.

The report further quoted sources as saying that “the IMF suspects that Chinese IPPs (independent power plants) are receiving higher payments from Pakistan and these agreements need to be reviewed.”

The report further states that sources in the Ministry of Finance have revealed that the IMF also objected to giving Rs 50 billion to Chinese IPPs in February without renegotiating the agreements.

The report also included comments by Esther Perez Ruiz, who said that due to its limited financial scope, Esther Perez Ruiz stressed the need for equal treatment of all stakeholders in the power sector.

The report did not immediately confirm or deny the IMF’s renegotiation of C-Pac energy deals with Pakistan by Esther Perez Ruiz, however, in her statement issued yesterday. Rejecting the report, he termed it as clearly wrong.

A statement issued by Esther Perez Ruiz said, “The IMF has not asked Pakistan to renegotiate the C-Pac IPP agreements. These claims are completely false. On the contrary, the IMF is in the energy sector. Supports the government’s multifaceted strategy to restore governance, which divides the burden of governance restoration on all stakeholders, including the government, power producers and consumers.

The statement comes as the government seeks to comply with IMF demands in hopes of resuming a 6 6 billion loan facility that has been stalled since April.

The IMF loan facility was suspended due to the failure of negotiations between the new coalition government and international lenders.

Earlier, the IMF had expressed concerns over the fuel and energy subsidies introduced by the previous PTI government and now the new government has raised concerns over the targets set for the next financial year. ۔

In this regard, the government has taken further steps by completely abolishing fuel subsidy and increasing fuel prices by 29%.

During a press conference last night, Finance Minister Muftah Ismail announced an increase in the prices of petroleum products for the third time in almost 20 days. The difference claim has been dismissed.

Earlier, in a press conference in early May, he stressed the need to fulfill all the commitments made with the IMF under the agreement reached by the PTI government.

However, he further added that there was no justification for sticking to the promises he had made to stop C-Pack.


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