Pakistani PM gives approval to raise power tariff

Prime Minister of Pakistan Nawaz Sharif has given his approval to increase power tariffs during a high level meeting on energy crisis held in the capital. Pakistan has been facing a shortfall of over 4,500 megawatts, resulting in load shedding at residential and industrial areas. The increase in tariff would be in effect by July first. Moreover, the meeting decided to look for the options for energy import by the neighbouring countries including India. The plan for resolving the issue of circular debt was also discussed during the meeting. Meanwhile, the Prime Minister has called for a high-level meeting to discuss issues related to Pakistan International Airlines (PIA) that was also a subject of case in higher courts over alleged corruption and mismanagement. The meeting would be held later on Friday and important decisions regarding the administration and financial matters of PIA are expected.