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ISLAMABAD: The federal government is all set to increase the gas tariff to meet the International Monetary Fund (IMF) condition, it emerged on Sunday.
As per details, the petroleum division has informed Oil and Gas Development Authority (OGRA) about working on the gas prices. After the increase in power tariffs, gas prices will now be increased.
The government has given written assurance to IMF about the increase in gas prices and the work will be presented in the next ECC meeting, Business Recorder reported citing sources within the power ministry.
The MMBTU price for the consumption of up to 300 cubic meters will be Rs 1100 and for up to 300 cubic meters, the price will be Rs 2000.
Earlier, Pakistan gave the International Monetary Fund (IMF) an assurance that it would raise energy tariffs in the current FY2023–2024 in order to reduce the power sector’s spiralling cyclical debt.
It is important to note that after the staff-level agreement was signed last month, the IMF approved a $3 billion loan for Pakistan. The IMF Executive Board authorised the loan.
The Fund has been instructed to distribute $1.2 billion right away, with the remaining $1.8 billion scheduled for distribution in two installments in November and February after the policies have been reviewed.
