The Government has finally hiked gas tariffs by up to 193% starting from November 1, 2023, which is going to put a lot of burden on the inflation-weary masses.
According to the details, the Economic Coordination Committee (ECC) of the cabinet gave approval for the hike in Gas Prices by up to 193% after meeting in the Federal Capital with Finance Minister Dr Shamshad Akhtar in the chair.
The development comes ahead of the International Monetary Fund (IMF) review that is scheduled to take place later this month and has asked Pakistan to cut down on its increasing circular debt in the energy sector.
Based on the approved summary, the fixed charges for protected Consumers have been increased from Rs. 10 to Rs. 400 per month, while non-protected consumers will face a hike from Rs. 460 to Rs. 1,000 per month.
Meanwhile, the higher slabs will be charged a monthly fixed meter rent of Rs. 2,000.
As per further details, the gas tariff has been hiked by up to 173% for non-protected domestic consumers, 136% for commercial consumers, 86.4% for the export industry, and 117% for the non-export industry.
Earlier, it was proposed that a hike in gas prices would be made applicable from October 1; however, the ECC granted approval for the hike with effect from November 1, 2023, with exporters being given the maximum benefit.
