The Economic Coordination Committee in Pakistan is likely to approve an increase in gas tariff prices as part of conditions set by the International Monetary Fund. The proposed hike includes a rise in prices for proactive, non-protected consumers and KEPTO plants. Pakistan is also expected to sign a new loan program with the IMF.
ISLAMABAD: A gas tariff is likely to further go up in Pakistan as the Economic Coordination Committee (ECC) meets today (Wednesday), ARY News reported.
According to details, the meeting of the Economic Coordination Committee is likely to give a nod to jack up gas tariff price on the International Monetary Fund’s condition.
Sources said the meeting would be presented a summary for approval of a hike in gas prices for proactive, non-protected consumers and KEPTO plants.
The document states that gas prices for protected consumers will increase by Rs 100 per MMBTU and gas prices for non-protected consumers by Rs300 MMBTU۔
The Ministry of Finance said that fixed charges for proactive, non-protected users would not be increased, while the per MMBTU tariff for bulk gas users will increase by Rs900.
The document states that the prices per MMBTU for the CNG sector will be increased by Rs170، The rise in gas prices for Engro Fertilizer will take effect on March 1.
Earlier, sources within the finance ministry said Pakistan is likely to sign a fresh loan programme with the International Monetary Fund (IMF), after the completion of the current one.
As per details, Islamabad is expected to sign the Extended Fund Facility programme for three years and would share budget proposals for FY-2024-25 with the International Monetary Fund, the sources said.
They further said the IMF will be given assurances of further jacking up electricity and gas prices and shunning subsidies burden on the economy, before signing the new loan programme.
Source: ARY NEWS
The gas tariff in Pakistan is expected to rise following a meeting of the Economic Coordination Committee. The approval of a hike in gas prices for non-protected consumers and KEPTO plants is likely to be granted, in line with the International Monetary Fund’s conditions. The proposed increase includes Rs 100 per MMBTU for protected consumers and Rs 300 per MMBTU for non-protected consumers. Additionally, the prices for bulk gas users and the CNG sector are set to rise, with assurances of further adjustments in electricity and gas prices to meet IMF requirements for a new loan programme.
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