IMF pours cold water on Punjab\'s cheap power plan

The International Monetary Fund (IMF) has slapped Pakistan with a slew of new conditions regarding energy subsidies and provincial budgets after Punjab took a "fiscally reckless" decision to give Rs45 to Rs90 billion electricity subsidies for two months. Government sources told The Express Tribune on Monday that the global lender imposed at least three critical-nature conditions on the Punjab government after the province gave Rs14 per unit electricity subsidy for two months. The IMF also asked an end to this temporary subsidy by September 30th and made it clear that no provincial government would give any such new subsidy during the 37-month Extended Fund Facility (EEF) programme.