Pakistan
IMF demands to increase gas tariff by 50pc
IMF desired a hefty 45–50% increase in gas prices from the Pakistani government following the acceptance of relief for power use.
Islamabad: The International Monetary Fund (IMF) desired a hefty 45–50% increase in gas prices from the Pakistani government following the acceptance of relief for power use on Friday.
The IMF reportedly required an increase in gas rate from 45 to 50 percent in the account for "Fuel Adjustment Charges" as of July 1 while putting a strong emphasis on a crackdown on electricity and gas theft to promote recovery.
It is important to note that the federal cabinet must approve any changes to gas tariffs in order for them to take effect.
The FBR has performed admirably, as seen by the IMF's decision to offer the relief of Rs15 billion, which is intended to lessen the financial strain on energy consumers.
Anwarul Haq Kakar, Dr. Shamshad Akhtar, and Muhammad Ali, the interim energy minister, interim finance minister, and interim prime minister, all make an impression with their tireless efforts.
Earlier, the Oil and Gas Regulatory Authority (OGRA) has raised the rates of liquefied petroleum gas (LPG) for the month of September in response to the recent spike in petrol prices.
The price of a household LPG cylinder has been set at Rs 459.85 following a rise in LPG prices of Rs 38.97 per kilogram, as per the information.
The official announcement of an increase in LPG pricing has been made by OGRA. For the month of September, new, raised prices are in effect.
It is important to note that for the month of August, the cost of an LPG cylinder was set at Rs 2,373.64.
Furthermore. Many homes and companies are worried about their budgets as a result of the September LPG price increase.