In a blow, PTI government raises gas prices in Pakistan

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In a blow, PTI government raises gas prices in Pakistan

ISLAMABAD – The Economic Coordination Committee (ECC) on Monday gave a go-ahead for increasing the gas prices.

The meeting was presided over by Finance Minister Asad Umar.

He directed to pour minimal load poor consumers of gas while the hike has been finalized for the elite class.

Moreover; the tax on the import of Liquefied Petroleum Gas (LPG) has been minimized by 10 percent. Sources say that LPG prices will decrease through imports.

At present, SNGPL and SSGCL are facing a loss of Rs156 billion each year due to the subsidy given on gas prices. Ogra has determined Rs275 billion revenue requirements for SNGPL and Rs211 billion for SSGC. This includes Rs29.4 billion previous year’s shortfall of SNGPL.