Gas prices for Commercial Consumers to rise by 40%: ECC

September 17, 2018 (MLN): The ECC Committee has nodded the approval of a 40 percent increase in prices for Commercial Consumers, raising the present gas price from Rs 700 to Rs 980/MMBTU.

With respect to the Fertilizer sector, gas sale price for Feed Stock (old consumers) has been increased from Rs 123 to Rs 185/MMBTU, reflecting an increase of 50 percent, whereas for Fuel Stock, the gas price has been increased from Rs 600 to Rs 780/MMBTU, reflecting a 30 percent rise in prices.

Price increase for fuel stock is the same as that for General Industrial and Captive Consumers, i.e. from Rs 600 to Rs 780/MMBTU.

The largest increase in gas prices for the Non-domestic sector pertains to the Power sector, for which prices have been increased from Rs 400 to Rs 629/MMBTU. According to Minister Petroleum Ghulam Sarwar, these increased prices for the power sector are not going to be passed on to domestic consumers.

These increased prices have also been made applicable for fertilizer and power sector consumers to whom gas is supplied directly from field by Mari Petroleum Company Limited (MPCL) and Pakistan Petroleum Limited (PPL).

A thirty percent jump in gas prices has been approved for the Cement sector, bringing the new gas price to Rs 975 from Rs 750/MMBTU previously.

For CNG, gas price has been raised by 40 percent from Rs 700 previously to Rs 980/MMBTU.

DOMESTIC SECTOR

With respect to the domestic sector, seven slabs have been created i.e. those consuming up to 50, 100, 200, 300, 400, 500, and more than 500 cubic meters of gas.

Prices for the masses have only been increased between 10-15%, while the greatest price increase comes for those consuming greater than 100 cubic meters of gas.

More specifically, price of gas for those consuming up to 50 cubic metres of gas will now pay Rs 121 from Rs110/MMBTU they were paying earlier, a 10 percent increase in prices. On a monthly basis, per month charges for the first slab have been increased to Rs 275 from Rs 252 previously. Likewise, those consuming between 50-100 cubic meters will pay 15 percent more, i.e. Rs 127 from Rs 110/MMBTU previously. Monthly charges for those consuming between 50-100 cubic meters have been raised to Rs 551 from Rs 480 previously.

The largest increase in gas prices comes for those with a high consumption of gas, as prices for those consuming greater than 100 cubic meters have been increased between 20-143 percent.

Those consuming between 100-200 cubic meters of gas will now pay Rs 264/MMBTU, a 20 percent increase in prices from the Rs 220/MMBTU being paid previously. On a monthly basis, prices for this slab have been increased to Rs 2,216 from Rs 1,851 previously.

Gas prices for the fourth slab, i.e. those consuming between 200-300 cubic meters have been raised by 25 percent, bringing the new price to Rs 275/MMBTU from Rs 220 before. On a monthly basis, prices have been raised to Rs 3,449 per month from Rs 2,764 previously.

With respect to the fifth slab, i.e. those consuming between 300-400 cubic meters will now be paying 30 percent more i.e. Rs 780 from Rs 600/MMBTU previously. Per month prices have been increased to Rs 12,980 from Rs 9,990 before.

The largest increase has been approved for those consuming the most, i.e. between 400-500 cubic meters of gas, and those consuming more than 500 cubic meters. Both these slabs will now be paying 143 percent more for gas, with prices going up from Rs 600 previously to Rs 1,460/MMBTU now. On a monthly basis, prices have gone up to Rs 30,339 and Rs 36,402 for the sixth and seventh slab respectively, from Rs 12,482 and Rs 14,973 before.

Copyright Mettis Link News

Posted on: 2018-09-17T15:52:00+05:00

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