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Another 'gas bomb' ready for Pakistanis on IMF demand

10:40 AM | 15 Feb, 2024
Another 'gas bomb' ready for Pakistanis on IMF demand
Source: File Photo

ISLAMABAD - The outgoing government is set to announce massive increase in gas prices as the nation is struggling to come out of the economic crisis.

On Wednesday, Economic Coordination Committee (ECC), approved massive increase in gas prices, before the deadline set by International Monetary Fund (IMF).

As people in South Asian nation are struggling to pay for basic commodities, ECC okayed an average tariff hike of 35.13pc for gas consumers in Punjab, KP, and Islamabad.

Sindh and Balochistan consumers were slapped with 8.57pc hike in the tariff.

Economic Coordination Committee approved a new tariff of Rs1673.82 per MMBTU for Sui Northern, and Rs1466.40 per MMBTU for Sui Southern.

The Federal Cabinet will make the final decision to meet the deadline of the IMF for hiking the gas prices under structural benchmark criteria.

The petroleum ministry recommended a hike in gas rates for bulk domestic and special commercial. Officials also suggested surge in feed and fuel gas prices for the Engro Fertiliser and Fauji Fertiliser Bin Qasim plants to Rs760/MMBtu and Rs1,750/MMBtu, respectively, effective March 1, 2024.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - PKR to US Dollar, Euro, Pound, Dirham, and Riyal - 21 April 2024

Pakistani currency remains unchanged against US Dollar and other currencies on April 21, 2024. US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro stands at 293 for buying and 296 for selling while British Pound hovers at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.20 and Saudi Riyal's new rate was at 73.30. 

Today’s currency exchange rates in Pakistan - 21 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71

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