Gas price hike approved in ECC meeting

MG News | September 17, 2018 at 01:07 PM GMT+05:00

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September 17, 2018 (MLN): The meeting of the Economic Coordination Committee chaired by Finance Minister Asad Umar has approved increasing the prices of gas for domestic consumers.

The Minister of Finance has said that minimum load has been placed on low income groups, while the largest increase in prices has been approved to be put in place for high-income groups.

The Committee has also approved the addition of further slabs for gas prices.

During its last meeting on September 10, 2018 the Committee had postponed the decision on grounds that additional discussion needed to be held with all stakeholders on the matter.

Moreover, the Committee resolved to reduce taxation on the import of LPG, bringing the tax rate down to ten percent, thereby leading to a decrease in the prices of LPG.

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