Pakistan, March 27 -- The International Monetary Fund (IMF) has approved a reduction in electricity tariffs for all consumers in Pakistan. The government can now cut tariffs by Rs1 per kilowatt-hour, providing relief to consumers. This decision comes after the recent staff-level agreement between Pakistan and the IMF.

The reduction is expected to ease the financial burden on consumers by up to Rs100 billion. A household using 500 units of electricity could save Rs500 monthly under the new plan. This relief will be funded through a levy on natural gas used by captive power plants, as outlined by the IMF.

This move is part of a broader effort by the government to provide financial relief to electricity users. The IMF noted that this decis...