ISLAMABAD – Federal Minister for Petroleum Ali Pervaiz Malik has said that the government has decided not to increase gas prices from January 1.
While briefing the National Assembly’s Standing Committee on Petroleum, Ali Pervaiz Malik said that on the prime minister’s instructions, there will be no change in gas prices, and gas tariffs will not be increased from January 2026.
He said that the gas circular debt is not increasing further. The total gas circular debt stands at Rs3 trillion, which also includes LPG.
The petroleum minister said that Qatar maintained the terms of its contract during difficult times. Even when LNG cargo prices rose to as high as $30 in the international market, Qatar continued supplies to Pakistan under the agreement. He said Pakistan values its relationship with Qatar.
He said the flow of gas circular debt is currently zero, while the total gas circular debt stands at Rs3 trillion, of which Rs1.7 trillion is interest. He added that if the circular debt were increasing, gas prices would have to be raised.
Ali Pervaiz Malik said that gas prices will not be increased this year and will remain unchanged.
While briefing the standing committee, the federal minister said the power sector demands 800 MMCFD of gas in the morning, which drops to 400 MMCFD by noon.
He added that the power sector demanded 200 MMCF of gas in January but is now asking for 500 MMCFD. He also said that Turkish Petroleum is set to carry out offshore drilling in the Indus Basin.
He further said that Pakistan’s companies are also part of joint ventures and that funds will be provided to them.
