ECC decides to increase gas and decrease LPG cylinder prices

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ECC decides to increase gas and decrease LPG cylinder prices

The Economic Coordination Committee of the Cabinet has decided to increase prices of gas upward and decrease the prices of LPG cylinder.

Minister for Petroleum and Natural Resources Ghulam Sarwar and Minister for Information and Broadcasting Fawad Chaudhry announced decisions of ECC at a news conference in Islamabad this afternoon.

They said slabs for gas consumers have also been increased from the existing three to seven to rationalize the price increase for different segments of the society.

The Ministers said there would be an increase of ten to fifteen percent in gas price for first two slabs. The increase would be 19 per cent for the third slab.

They said there would be an increase of just twenty three rupee for the first category of consumers. They, however, said there would be higher increase for consumers falling in upper categories.

The Ministers said there would be no increase in price for zero rated industries.

They said all taxes on import of LPG have been abolished and only 10 per cent GST would be levied. As a result the price of an LPG cylinder would come down from the existing about 1600 rupee to 1400 rupee per cylinder.

Replying to a question, the Information Minister said there would be no increase in the price of electricity due to increase in price of gas.

To another question, the Minister for Petroleum said the Ministry, legal experts, NAB and FIA are looking into different clauses of the LNG import accord and findings would be made public.