IMF releases review mission report, holds power sector responsible for Karachi deaths

ISLAMABAD (92 News) – International Monetary Fund Mission to Pakistan Chief Herald Finger has said that the 1200 deaths occurred in Karachi due to blistering heatwave proved the failure of power sector. Addressing a press conference, Herald Finger has expressed grief and sorrow over the deaths. He said that power distribution companies should be privatized on priority basis to end loadshedding in the country. “The performance of the distribution companies should be increased,” he said. He said that the circular debt of the power sector has reached Rs 615 billion. “The targets of electricity bills recovery have not been achieved,” IMF mission chief said. “Line losses should be reduced.” Herald Finger said that privatization of Pakistan International Airlines (PIA) is a difficult phase, adding that that privatization could be completed till December. “Privatization of Steel mills is still pending,” he said. The IMF mission chief said that IMF has released its seventh review mission report. He said that Pakistan failed to achieve its tax targets. “Pakistan positively took steps to abolish statutory regulatory orders (SROs).” Herald finger said that Pakistan has assured to recover electricity bill dues.