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    CelloMom On Cars (cellomomoncars@mastodon.social)'s status on Wednesday, 27-Nov-2024 04:41:30 JSTCelloMom On CarsCelloMom On Cars
    in reply to

    What happened:
    In 2021, Pakistan needed a loan.
    The IMF offered a loan, but - as with many IMF loans - it came with strings attached.

    "Pakistan and the IMF have agreed to restore energy sector viability as part of the bailout program, which includes cost cuts and privatization of state-owned power distribution companies."

    And subsidies had to be done away with.

    Predictably, electricity prices rose steeply. People started turning to solar PV.

    https://www.bloomberg.com/news/articles/2024-08-13/it-can-cost-more-to-power-a-house-than-rent-it-in-pakistan

    In conversationabout a year ago from mastodon.socialpermalink
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