CCI approves strict gas policy

Islamabad: The Council of Common Interests (CCI) has approved a strict gas policy for 2024. According to the details, gas exploration and production firms were allowed to sell gas to the private sector on mutually agreed rates.

Therefore, provided that these rates are not lower than the rates fixed in the policy so that they cannot exploit the limited gas reserves.

Petroleum Division officials stated that the price will be 7.5 cents mmbt as per the 40 percent premium offered on zonal basis in the 2012 Petroleum Policy.

However, the government will get 40% tax and 12.5% ​​royalty on it, thus the exact price will be around $5.50 per mmbtu, 500, 1000 mmcfd gas expensive import RLNG will take place from now on.