Gas tariff likely to go up in Pakistan

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.

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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.