ECC sets to approve gas price hike of up to 2.93x

By MG News | October 17, 2023 at 03:15 PM GMT+05:00

0:00

October 17, 2023 (MLN): The country is bracing itself for an impending surge in gas prices, with the government set to increase prices by up to 2.93x on the back of a surging circular debt.

The Economic Coordination Committee (ECC) of the Cabinet will meet and approve the hike in gas prices, wherein it is set to increase prices for bulk by 25%, commercial by 2.36x, export industry by 86%, non-export industry by 2.17x, CNG by 2.44x, and cement by 2.93x.

These prices will be applicable from October 10, 2023.

To note, there will be no change in gas prices for the protective category of domestic consumers, while non-protected domestic consumers will be hit by up to 2.73x hike.

Proposed Gas Sales Prices
PKR/mmbtu	Old Rate	New Rate	Change in %
Domestic (Residential) Sector
Protected
Up to 0.25 hm3/month	121	121	0%
Up to 0.5 hm3/month	150	150	0%
Up to 0.6 hm3/month	200	200	0%
Up to 0.9 hm3/month	250	250	0%
Non-Protected
Up to 0.25 hm3/month	200	300	50%
Up to 0.6 hm3/month	300	600	100%
Up to 1 hm3/month	400	1,000	150%
Up to 1.5 hm3/month	600	1,200	100%
Up to 2 hm3/month	800	1,600	100%
Up to 3 hm3/month	1,100	3,000	173%
Up to 4 hm3/month	2,000	3,500	75%
Above 4 hm3/month	3,100	4,000	29%

Revised Gas Sales Prices for other categories of Consumers
PKR/mmbtu	Old Rate	New Rate	Change in %
Bulk	1,600	2,000	25%
Special Commercial (Roti Tandoor)	697	697	0%
Commercial	1,650	3,900	136%
Power
KE, SNPC, EPQL	1,050	1,050	0%
Liberty	2,406	3,890	62%
Fertilizer
Feed - Engro	200	200	0%
Feed - FFBQL	510	580	14%
Fuel	1,500	1,580	5%
Cement	1500	4400	193%
Export Industries
Process	1,100	2,050	86%
Captive	1,100	2,050	86%
Non-Export Industries
Process	1,200	2,600	117%
Captive	1,200	2,600	117%
CNG	1,805	4,400	144%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	130,648.40 58.81M	0.23% 304.36
ALLSHR	81,272.32 146.63M	0.31% 248.33
KSE30	39,991.65 29.74M	0.21% 83.39
KMI30	190,255.93 36.46M	0.38% 720.93
KMIALLSHR	54,950.71 79.75M	0.30% 167.05
BKTi	34,892.03 5.20M	-0.14% -48.70
OGTi	28,547.14 8.43M	0.89% 251.09

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,590.00	110,105.00 109,200.00	-695.00 -0.63%
BRENT CRUDE	68.66	69.00 68.41	-0.45 -0.65%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	109.20	110.00 108.25	1.70 1.58%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	67.02	67.50 66.78	-0.43 -0.64%
SUGAR #11 WORLD	15.56	15.97 15.44	-0.14 -0.89%