The government has assured the International Monetary Fund (IMF) of transparency in the operations of the Special Investment Facility Council (SIFC).

According to the details, negotiations between Pakistan and the IMF for a new bailout package are going on, with an IMF mission currently visiting Pakistan on a two-week visit.

The IMF has been assured of transparency in the SIFC's operations, sources said, adding that investments would be made under the Public Investment Management Framework.

According to the sources, there will be no unequal investment opportunities, incentives, or promises of guaranteed returns through this forum.

Also Read: Pakistan assures IMF of increasing basic electricity tariff

Officials of the Ministry of Finance assured the IMF that the investment environment in the country would not be distorted, adding that the procedure of transparency would be adopted for SIFC as per international standards.

The IMF was also assured of improving the efficiency of the Central Monitoring Unit.

Earlier, the Ministry of Energy assured the IMF of its commitment to raising the base tariff of electricity, signalling an impending increase in electricity prices across Pakistan. According to the ministry, the hike in basic electricity prices will come into effect from July 1, impacting consumers nationwide.

Also Read: IMF demands end to tax exemptions, incentives, privileges

The basic tariff will be increased following the adjustment in the multi-year tariff by the National Electric Power Regulatory Authority (Nepra). The Ministry of Power has announced that the retail price of electricity is expected to rise by Rs7 per unit.

Sources reveal that the minimum national average tariff will witness a notable increase from Rs29 to Rs36 per unit. This adjustment is expected to impact all categories of electricity consumers except lifeline customers, who currently benefit from a subsidized tariff structure.