Govt to hike gas prices from January 2024: Shamshad Akhtar

MG News | November 16, 2023 at 11:15 PM GMT+05:00

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November 16, 2023 (MLN): The government plans to increase gas prices starting January 2024, caretaker finance minister Dr Shamshad Akhtar stated while addressing the media on Thursday.

She said they have informed the International Monetary Fund (IMF) about the review of tariffs.

To note, Pakistan got initial approval from the IMF yesterday for the release of the next loan tranche under the current $3bn loan program.

Pending approval by the IMF's Executive Board, the agreement will grant Pakistan access to SDR 528m, which is around $700m.

Dr Shamshad Akhtar further revealed that no decisions have been finalized regarding additional taxes on real estate and retailers.

She stressed that the government's primary focus is on achieving its tax collection target of Rs9.415 trillion.

The finance minister further emphasized the possibility of taking additional measures if the tax revenue collection falls short.

Meanwhile, she said that the plan to sell $1.5bn in bonds has been deferred.

The government anticipates an improvement in the country's rating following IMF approval, she added.

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