ECC okays revision in gas prices

MG News | February 13, 2023 at 07:59 PM GMT+05:00

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February 13, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet approved the gas price revision proposal for domestic, commercial, and power sectors for six months i-e January to June 2023.

The summary was tabled by the Ministry of Energy (Petroleum Division) on Natural Gas Sale Pricing FY23 and presented tariff proposals for all consumer categories in accordance with RERR FY23.

This approval marks an important step towards ensuring the sustainable supply of natural gas, which is essential to meet the growing demand for this resource. The revised gas prices are expected to benefit consumers by ensuring a reliable and steady supply of natural gas, which will in turn drive the country's economic growth.

In a recent press conference, Finance Minister Ishaq Dar stated that the government is determined to stop further growth in the circular debt.

He said that the circular debt usually increases by around Rs170bn to Rs270bn annually.

The meeting was chaired by Federal Minister for Finance and Revenue Senator Ishaq Dar.

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