Pakistan Seeks to Reduce Electricity Prices After Mass Protests
- Protesters demand quick relief after 75% hike in past year
- Pakistan agreed to raise power tariff with IMF for a bailout
Protestors demonstrate against electricity and fuel prices in Karachi, Pakistan, on Aug. 23.
Photographer: Asif Hassan/AFP/Getty Images
Pakistan is drawing up a strategy to reduce power tariff after nationwide protests against rising electricity bills over the weekend, a move that was agreed with the International Monetary Fund for a $3 billion bailout.
Interim Prime Minister Anwaar-ul-Haq Kakar told the government officials to come up with steps to reduce the power bills, according to a statement by Prime Minister Office on Sunday. Kakar called the meeting after mass protests and said the government will not take any decision in haste that can harm the nation’s finances. Pakistan unexpectedly froze fuel prices last year that stalled the IMF’s loan program.