Govt likely to impose hefty increase in gas prices
Petroleum Division said that it had received an application from Mari Petroleum Company for approval of Declaration of Commerciality and Field Development Plan for Hilal and Iqbal discoveries. PHOTO: file
The Ministry of Petroleum has finalized its preparations to burden consumers with escalated prices of gas starting October 1.
Sources close to the ministry said that a summary has been prepared proposing up to a 200% increase in gas prices. The proposal aims to raise fixed monthly charges for protected gas consumers.
The fixed charges are being proposed to skyrocket from Rs10 to Rs400, while the price of gas for domestic consumers is slated to surge by an alarming 172%.
Moreover, other consumers may have to bear a drastic increase of up to 198.33% in gas prices.
The sources disclosed that the implementation of this increase in gas prices has been recommended to commence from the beginning of October.The summary outlining the proposed increase in gas prices will be presented before the Economic Coordination Committee (ECC) for approval.