Govt decides to introduce new gas tariff
- By Web Desk -
- Oct 30, 2023
ISLAMABAD: The caretaker government has decided to introduce a new gas tariff for the export industry, ARY News reported citing sources.
According to sources, the government is likely to take back the decision related to fixing the gas tariff at Rs 2600 MMBtu for non-export industries
Sources said that an emergency meeting of ECC has been convened which will approve the new recommendations today.
A recommendation was sent to the committee to fix the gas tariff for the non-export industry at 2100 to 2200 MMBtu which will drop the hike from 1400 to 900, sources added.
Read more: Federal cabinet defers hike in gas prices
Sources further said that currently, the gas tariff for the export industry is Rs 1100 per MMBtu, whereas the new gas tariff will be effective from November 1.
Earlier today, the federal cabinet deferred the hike in gas prices and instructed the authorities concerned to further mull over the decision, citing sources.
The federal cabinet has stopped the implementation of the prescribed hike in gas prices and deferred the decision of the Economic Coordination Committee (ECC).
On October 23, the Economic Coordination Committee (ECC) of the Cabinet 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.