KARACHI: Pakistan on Friday approved a 10 percent increase in natural gas prices for industrial users and power plants starting next month, in line with reforms mandated by the International Monetary Fund (IMF) to ensure cost recovery and tariff rationalization, an official statement said.
The decision was taken by the Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb.
While prices for bulk consumers and gas-fired power plants will rise, household consumers will be shielded from the increase.
“To protect household consumers, gas prices will remain unchanged, with only fixed charges revised,” the Finance Division said in a statement released after the meeting. “However, prices for bulk consumers, industrial units and power plants will be increased by an average of 10 percent.”
The statement said the revised pricing structure, submitted by the Petroleum Division, complies with regulatory obligations under the OGRA Ordinance and meets structural benchmarks under Pakistan’s ongoing loan program with the IMF.
