Govt increases gas prices by 172%, no raise for 57% consumers of protected category

ISLAMABAD (92 News) - The government on Tuesday increased the gas prices by 172 percent, multiplying the woes of the people already hit by unbearable inflation.

According to the declaration, the price has been increased from 100 per MMBT to 900 MMBT. The new price for the consumers of 25 cubic metre will be Rs300. The price of the use of above 400 cubic metre has been increased from Rs3,100 to Rs 4,000.

The declaration states that the no increase has been made for the 57 percent protected category and the fixed charges have been increased to Rs400.

APP adds: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved revision of the natural gas sale pricing for different categories of consumers for the fiscal year 2023-24, with effective from November 1st, 2023.

According to press statement issued by the Finance Ministry, the cabinet committee during its meeting considered the single item agenda regarding the revision of the natural gas sale pricing for different categories of the consumers for the FY 2023-24. The ECC earlier on October 23, 2023, had considered the summary submitted by the Petroleum Division and approved the increase in the natural gas prices, however the Federal Cabinet in its meeting held on October 30, 2023 had referred back the summary for reconsideration of the ECC. Accordingly, the ECC in its meeting held on Tuesday, approved the revised natural gas prices, the statement added.

The Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar presided over the ECC meeting, which among others was attended by the Minister for Privatization, Fawad Hassan Fawad; Minister of Planning, Development and Special Initiatives, Sami Saeed; Minister for Power and Petroleum, Muhammad Ali; federal secretaries, and other senior government officials of the relevant ministries.