To bring a uniform formula for gas prices across the country, the gas department of the Ministry of Petroleum asked for suggestions from the partners, to determine tariffs by combining local and imported gas rates.
The policy will eliminate the revolving debt in the gas sector, the final proposals will be presented to Prime Minister Shehbaz Sharif, after which approval will be taken from the Economic Coordination Committee (ECC) and the cabinet.
The government will decide the subsidy procedure for domestic users with less than 100 hectares.
Earlier, Pakistan’s caretaker government in February increased the price of natural gas by up to 67 percent for residential consumers to meet one of the key fiscal tightening conditions of the International Monetary Fund (IMF).
The Oil and Gas Regulatory Authority (OGRA), the sector’s regulator, notified the gas tariff hike effective from February 1.
The government last increased the tariff in November 2023.
