ISLAMABAD: There are two days left for the expiry of the deadline for the assurance given to the IMF regarding the increase in gas prices, but the Cabinet’s Economic Coordination Committee meeting could not decide on the summary of the increase in gas prices.
ECC has decided to further consider the summary of gas prices, due to the increase, gas prices will increase for the third time in a year and the implementation of Ogra recommendations will put an additional burden on gas consumers of about 100 billion rupees. It is proposed to do it from January 1, 2024
A meeting of the Economic Coordination Committee was held under the chairmanship of caretaker finance minister Dr. Shamshad Akhtar. Sources say that the petroleum division presented a summary of the increase in gas prices, but the ECC could not reach a decision, after which it was decided that the summary will be further considered after which the summary will again be submitted for approval.
After the approval of ECC, the approval of the prices will be taken from the Federal Cabinet, after which the OGRA will issue a notification.
OGRA had approved an average increase of 35.13 percent in the tariff for gas consumers of Punjab and Khyber Pakhtunkhwa, including Islamabad, and 8.57 percent for consumers of Sindh and Balochistan.