Summary seeks 193% increase in gas prices

ISLAMABAD: A summary has been forwarded to the Economic Coordination Committee (ECC), seeking a staggering increase of 193 per cent in gas prices from next month.

According to sources, the summary submitted by the Petroleum Division has recommended an astounding 193 per cent increase in gas tariff for industrial sector and a 172 per cent hike for domestic consumers.

Furthermore, it has suggested to increase the fixed monthly charges for protected consumers from Rs10 to Rs400.

The sources said that the proposal has sought a tariff increase of Rs950 metric million British thermal unit (MMBTU) for industrial sector, Rs2,050 for export industries, Rs1400 for non-export industries, Rs2,600 rupees for other non-export industries and Rs2,595 per MMBTU for the CNG sector.

Another hike in electricity tariff on the cards

For the CNG sector, the gas tariff has been proposed to be increased by Rs4,400 per MMBTU, while the gas tariff for factories and industries run by electric power and furnaces (tanddor) have been recommended to remain unchanged.

The sources suggest that these increases in gas prices may come into effect as of October 1 if the ECC approves them.