Gas, power tariff hikes under IMF fuel inflation: finance minister

The government admitted on Wednesday that a record 840 per cent increase in gas prices, over 110pc rise in electricity tariffs and a 43pc currency depreciation under the International Monetary Fund (IMF) programme have contributed significantly to the unprecedented inflation that has eroded the purchasing power and living standards of many Pakistanis. “Under the IMF stabilisation programme, the government has increased the long-due utility prices (electricity and gas),” Finance Minister Muhammad Aurangzeb said in a written testimony before the National Assembly on Wednesday. Giving details in response to a question from another government parliamentarian, Tahira Aurangzeb, the minister said that from November 2023 to February 2024, a major increase in gas and electricity charges had been observed.