IMF delegates concerned over Pakistan's power sector losses: sources

ISLAMABAD: A delegation of International Monetary Fund (IMF), which has been holding talks with Pakistani officials in Islamabad, has expressed concerns over losses in the country's power sector, sources informed Geo News Friday.

The third round of talks between the two sides was held on Friday, the sources said, during which the delegates were presented a review of power sector's performance and its capability.

They said the delegates expressed their concerns over the losses and urged Pakistan to take measures for recovery of outstanding dues and reduction in circular debts.

According to the IMF, circular debt was affecting other sectors of the country's economy as well, the sources said. It also urged for expediting the process of streamlining power distribution companies facing financial losses.

Pakistani officials also briefed the delegates that subsidy in power sector was only limited to low-income individuals, whereas measures were being taken across the country to prevent power pilferage.

It is pertinent to mention here that the IMF delegation was provided details of financial recovery and losses in power sector on Thursday.

The visiting IMF delegates are initially being briefed about statistics of various sectors of Pakistan's economy. They will present their views during policy-level talks between the two sides starting from November 12.

Talks between Pakistani officials and the IMF will continue until November 20.