Another IMF demand fulfilled as OGRA notifies hike in gas tariff

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has issued a notification regarding the hike in gas tariff to meet another demand of International Monetary Fund (IMF), ARY News reported.

According to the notification issued by OGRA, the gas tariff has been hiked by 200% whereas it has been increased by 172% for domestic consumers and it will be effective from November 1.

The fixed monthly charges for protected domestic consumers have been increased by 3900%, from Rs 10 to Rs 400.

The increased gas tariff for different categories are as follows:

• Consumers using 25 cubic metres: From Rs200 to Rs300 per mmBtu
• Consumers using 60 cubic metres: From Rs300 to Rs600 per mmBtu
• Consumers using 100 cubic metres: From Rs400 to Rs1,000 per mmBtu
• Consumers using 150 cubic metres: From Rs600 to Rs1,200 per mmBtu
• Consumers using 200 cubic metres: From Rs800 to Rs1,600 per mmBtu
• Consumers using 300 cubic metres: From Rs1,100 to Rs3,000 per mmBtu
• Consumers using 400 cubic metres: From Rs2,000 to Rs3,500 per mmBtu
• Tandoors: Rs600 per mmBtu (previous rate is maintained)
• Power plants: Rs1,050 per mmBtu
• Cement sector: Rs4,400 per mmBtu
• CNG sector: Rs3,600 per mmBtu
• Export units: Rs2,100 per mmBtu
• Non-export units: Rs2,200 per mmBtu

On October 30, the caretaker federal government notified a massive hike in gas prices which would be taken into effect on November 1.

Read more: Petroleum Division notifies massive hike in gas prices

The Petroleum Division issued a notification regarding the massive hike in gas prices for domestic, export, non-export units, CNG, cement and other sectors.

ECC’s decision

On October 23, the Economic Coordination Committee (ECC) of the Cabinet had approved various summaries including revision of natural gas pricing.

A summary submitted by the Ministry of Energy (Petroleum Division) regarding the revision of the natural gas sale pricing for the FY 2023-24, was also approved as per the tariff schedule submitted by the Ministry, prospectively w.e.f. 1st November 2023, instead of 1st October 2023.