Brace yourselves, Pakistan, as gas prices are poised to increase for both protected and non-protected consumers, effective February 1. This move is expected to put an additional burden of Rs204 billion on all consumers.
Protected customers, previously shielded from significant price hikes, will see their gas bills jump by Rs100 per MMBTU. Meanwhile, non-protected consumers face a steeper increase of Rs300 per MMBTU. However, sources have confirmed that fixed charges for both categories will remain unchanged.
There will be a Rs900 per MMBTU increase in prices for those consuming large quantities of gas, sources said.
This price hike extends beyond households, impacting other sectors as well. The CNG sector will see a Rs170 per MMBTU increase, and prices for captive power plants will also rise. Notably, the increase for Engro Fertilizer will be implemented a month later, starting March 1.
While the exact reasons behind the increase are not immediately clear, it is likely linked to factors such as rising global energy prices and the need to reduce the gas sector's financial deficit.
Impact on Consumers:
This news is likely to be met with concern and frustration from consumers across the board. The increased gas bills will strain household budgets, particularly for those already struggling with rising costs of living. Additionally, the impact on businesses, especially in the CNG and captive power sectors, could lead to price hikes for goods and services, further burdening consumers.
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