Canada Global (Web News) Following the government’s negotiations with the International Monetary Fund, the Economic Coordination Committee (ECC) on Monday approved a rise in gas rates for residential, commercial, and exporter consumers of more than 100%. (IMF).
According to the slabs, the price per metric million British thermal units (MMBtu) has increased for home consumers by Rs50 to Rs1810 and for commercial consumers by Rs1283 to Rs1650. The cost per MMbtu for consumers purchasing in bulk, however, has climbed from Rs780 to Rs1600, and the cost per MMbtu for K-Electric and SNPC power plants has increased from Rs857 to Rs1050.
While the cement industry would pay Rs1500 per MMBtu instead of Rs1277, fertiliser prices have increased by Rs1275 per MMBtu. CNG will be available for Rs1805 per MMBtu, and exporters would be taxed Rs1100 per MMBtu. In addition, consumers in the protected group will pay fixed fees of Rs. 50 while consumers in the unprotected category would pay Rs. 500.
The new price will be in place as of January 1, 2023. The ECC, however, also approved a grant of Rs. 40 billion for the Benazir Income Support Program (BISP). The hike in gas prices had already been proposed by the Oil and Gas Regulatory Authority (Ogra).
