New gas prices in Pakistan from July 1 as govt announces big decision

ISLAMABAD: The federal government has decided against reducing gas tariffs effective from July 1, it was learnt.

The Oil and Gas Regulatory Authority (Ogra) had announced a 10% reduction in gas prices for the upcoming fiscal year.

The new tariff includes a Rs250 per mmBtu hike in gas prices for captive power plants (CPPs), raising the tariff to Rs3,000 per mmBtu from the current Rs2,750 per mmBtu.

Sources further disclosed that the government aims to achieve a surplus.

The decision has been taken in line with the conditions laid forth by the Intrernational Monetary Fund (IMF).

However, the gas prices for all other consumers will be kept unchanged.