ISLAMABAD, Nov 22 (APP):Minister for Energy Hammad Azhar on Monday said International Monetary Fund (IMF) has acknowledged the government remarkable work in energy sector as despite capacity payment, circular debt witnessed sharp decrease.
Addressing a press conference along with Advisor to the Prime Minister on Finance Shaukat Tarin, he said base tariff was increased as per the agreement.
There would be no effect on both Winter Seasonal Energy Package and Industrial Energy Package due to the agreement, he said.
Both the packages would continue as it @ Rs 12.96 per unit, he said.
Hammad said prices of essential commodities witnessed sharp increase across the globe due to COVID-19 pandemic.
He said the entire negotiation team led by the Advisor on Finance Shaukat Tarin deserved appreciation.
He said the agreement would bring further stability.