Gas prices to increase next week

Islamabad: Pakistan will witness a potential increase in gas prices from next week, attributed to mounting revolving debts and dwindling revenues within the gas sector.

This imminent hike in gas prices is set to take effect from October 1, raising concerns among both consumers and industry stakeholders.

As per the details at hand, a proposal to augment the tariff for non-protected domestic users by a range of 100 to 150 percent is currently under deliberation.

Simultaneously, protected users may see a surge in fixed charges, as part of a strategic effort to maintain revenue targets throughout both winter and summer seasons.

Petroleum Division officials have disclosed that those utilizing 0.5 to 0.9 hectares of gas per month will encounter no alterations in their current prices.

In contrast, those consuming 1 hectare of gas on a monthly basis are poised to witness a notable adjustment, effectively aligning their tariff with liquefied petroleum gas (LPG) rates.

Sources within the Petroleum Division have conveyed a concerning annual loss of 200 billion due to the supply of liquefied natural gas (LNG) at reduced prices.

Authorities are reportedly planning to present a comprehensive summary of the proposed gas price increase in the upcoming meeting of the Economic Coordination Committee (ECC).

If approved, the hike is scheduled to take effect as of October 1, potentially burdening consumers and businesses with increased energy costs.