Gas prices likely to increase up to 200 per cent

Gas prices likely to increase up to 200 per cent

June 25, 2019

ISLAMABAD: The incumbent government is expected to increase the price of gas for domestic consumers up to 200 per cent and up to 31 per cent for commercial consumers from July 1.

The Economic Coordination Committee (ECC) is likely to approve the proposed increase in gas tariffs after reviewing the summary provided by the Oil and Gas Regulatory Authority (Ogra).

According to the summary, those paying Rs2305 monthly for their gas bill will now be paying Rs4900, subsequently, those paying Rs3579 earlier will now pay Rs7995 which is an increase of over Rs4000.

For consumers using more than 400 cubic metres per month, the rate is expected to increase to Rs1,476 per MMBTU ((million British thermal units) from Rs1,460. This will lead the monthly bill to decrease from Rs31,573 to Rs25,534.

According to details, consumers could be burdened with Rs175 billion with this price increase in gas.

The Pakistan Tehreek-e-Insaf (PTI) government has already increased gas prices by up to 145 per cent in the last ten months.