Gas prices to increase massively following pressure from IMF
In Islamabad, following the approval of relief measures for electricity consumption, the International Monetary Fund (IMF) has called upon the Pakistani government to implement a substantial increase of 45-50 percent in gas prices.
Specifically, the IMF's demand pertains to an escalation in gas tariffs, designated as 'Fuel Adjustment Charges,' starting from July 01. This proposal also places emphasis on curbing electricity and gas theft to enhance revenue recovery. It is noteworthy that any adjustment in gas tariffs necessitates approval from the federal cabinet.
Prior to this development, the IMF's decision to provide relief of Rs15 billion, aimed at alleviating the financial burden on electricity consumers, serves as a testament to the commendable performance of the Federal Board of Revenue (FBR). This underscores the tireless efforts of key figures within the caretaker government, including Caretaker Prime Minister Anwarul Haq Kakar, Caretaker Finance Minister Dr. Shamshad Akhtar, and Caretaker Energy Minister Muhammad Ali.
The relief package is expected to yield substantial benefits for consumers who utilize up to 200 units of electricity. Sources suggest that consumers falling within this category can anticipate relief ranging from Rs 3 to Rs 4 per unit on their electricity bills. Furthermore, provisions will be made for delayed payments to ensure that these consumers do not incur penalties for late payments.