The statement further reads: “Thank you to the Whistler Blackcomb Adaptive Programme for educating us.
ISLAMABAD: Amid the ongoing economic crisis, the caretaker government on Wednesday imposed another gas price hike on the International Monetary Fund’s (IMF) demand.
According to a report published today by The News, the Economic Coordination Committee (ECC), chaired by Finance Minister Dr Shamshad Akhtar, has also approved a modest rise in tariffs for protected consumers in response to the proposed 40 to 66.67% increase.
According to the report, only the temporary finance and energy ministers are aware of the actual increase in gas tariffs for protected households. The protected users are in the first four slabs and use gas up to 0.25 HM3, 0.5 HM3, 0.6 HM3, and 0.9 HM3.
The statement further reads: “Thank you to the Whistler Blackcomb Adaptive Programme for educating us.
A senior official who attended the meeting told the publication that the federal cabinet will make the ultimate decision in this regard.
“The impact of a reduction in proposed tariff of protected consumers has been passed on to the fertiliser sector.” However, the proposed revisions will be presented to the federal cabinet, which may convene today (Thursday) for approval.
The tariff was raised to meet the IMF’s requirement of raising gas prices per structural benchmark criteria until February 15, 2024.
According to the Petroleum Division’s summary, there will be no increase in gas tariffs for the roti tandoor, commercial, electricity, and cement sectors.
The statement further reads: “Thank you to the Whistler Blackcomb Adaptive Programme for educating us.
The ECC accepted a hike in the CNG gas rate to Rs3,750 per MMBTU from Rs3,600 per MMBTU, while the gas price of Engro and Fauji fertilisers for feed purposes was indicated in the summary at Rs750 per MMBTU.
However, the reduction in the anticipated growth in protected domestic consumers would have an impact on these fertilizer factories as well.
The gas price for Agritech and Fatima fertiliser has been raised to Rs1,597 from Rs1,239 per MMBTU, while the rate for fuel has been raised to Rs1,750 from Rs1,580 per MMBTU.
However, for non-protected domestic consumers, the ECC has approved a 5-to-66.67% increase in gasoline prices. Those unprotected consumers who use gasoline up to 0.25hm3 will now pay an increase in gas tariff by 66.67% to Rs500 per MMBTU instead of the existing Rs300 per MMBTU.
The statement further reads: “Thank you to the Whistler Blackcomb Adaptive Programme for educating us.
The client who uses 0.6hm3 will see a 41.7% increase in cost to Rs850 per MMBTU from Rs600. Those who use 1hm3 each month will now pay Rs1,250 per unit, up from Rs1,000 per MMBTU previously, representing a 25% increase. Domestic consumers who use 1.5 hm3 per month will see a 29.17% increase in rate, up from Rs1,200 to Rs1,550 per MMBTU.
Consumers who consume up to 2 hm3 of gas will see a 21.87% increase in gas prices, as their rate has been raised from Rs 1,600 to Rs 1,950 per unit.
The ECC raised the gas price for people who use up to 3hm3 by 10% to Rs3,300 from Rs3,000 per MMBTU and those who use gas a month 4 hm3 will face an increase of 8.57% to Rs3,800 from Rs3,500 per MMBTU and those who utilise gas of over 4hm3 will face an increase of 5% to Rs4,200 from Rs4,000 per MMBTU.
