Gas Prices to Surge as Government Bows to IMF

The Caretaker government has granted approval to increase gas prices, complying with the condition set by the International Monetary Fund (IMF).

The hike in prices will affect both protected and non-protected consumers, with captive power plants set to witness a surge in gas rates.

For non-protected consumers, an expected increase of 100 rupees per MMBTU (million British thermal units) is anticipated, while for protected consumers, the hike could reach up to 300 rupees per MMBTU.

Additionally, gas users might face a staggering increase of 900 rupees per MMBTU, whereas the CNG sector is expected to experience a rise of 170 rupees per MMBTU.

Moreover, fertilizer factories will also witness a moderate increase in gas rates.

The final approval for the price hike will be sought from the federal cabinet, and the new prices are expected to come into effect from February 1st.

Zubair Yaqoob

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