Pakistan
Gas prices spike in Pakistan as caretaker govt approves massive increase
Pakistan's caretaker cabinet has approved a massive increase of up to 3,900 per cent in the fixed monthly charges, and 194 per cent in the consumer rates for natural gas, leading to a rise in inflation, media reports said.
In effect, the average gas cost for protected consumer slabs (0.25hm3 to 0.9hm3) would jump by up to 300pc, in view of the cumulative impact of higher fixed charges, while their annual bill is estimated to rise by up to 150 per cent, Dawn News reported.
“The federal government… approved increase in the price of natural gas for different categories of the consumers as advised by the Ogra with effect from November 1, 2023,” a summary issued by the petroleum division after the cabinet meeting as quoted by Dawn News.
According to the statement, the cabinet referred the summary back to the ECC for reconsideration on Monday, which was approved the same day.
After the ratification of new prices, there is up to 3,900pc increase in fixed monthly charges for the “protected category” in the domestic sector from Rs10 at present to Rs400 per month.
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