The government raises gas tariffs, adding to citizens’ inflation woes.
The Cabinet’s Economic Coordination Committee (ECC), chaired by Finance Minister Dr. Shamshad Akhtar, approved raising the gas tariff to 193% effective November 1, 2023, during a meeting held in the nation’s capital.
This development coincides with the impending review by the International Monetary Fund (IMF), which was urged to ask Pakistan to reduce the rapidly increasing circular debt in the energy sector later this month.
The set monthly fees for protected consumers were increased from Rs10 to Rs400, for non-protected from Rs460 to Rs1000, and for higher slabs up to Rs2000, in accordance with the authorized summary.
The local gas tariff has been increased by the government to 173% for domestic non-protected consumers, 136.4% for commercial users, 86.4% for exporters, and 117% for non-exporting businesses.
Exporters will benefit the most since their tariff will increase by 86% starting on November 1, 2023.
The average tariff was supposed to increase as of October 1, 2023, however the ECC approved it with effect from November 2023.
The meeting examined a number of agenda items and summaries provided by other departments, according to the Ministry of Finance.
