After historic petrol price hike, Pakistan shocks gas consumers with over 100 percent surge

ISLAMABAD – The federal government has increased the gas tariff by over 100 percent, a day after a historic hike in the prices of petroleum products.

In another move to add to the burden of the masses, who are already reeling from inflationary pressures in cash strapped country, the Economic Coordination Committee (ECC) of the federal cabinet approved increasing the gas prices.

In a notification, OGRA said the domestic gas consumers, who use 100 cubic meters will see over 16 percent hike with the new cost for consumers fixed at Rs350 per MMBTU. Consumers who use 200 cubic meters will pay 32 percent more.

For commercial consumers, the gas tariff has been increased by 28 percent. For fertiliser sector, there is a 46 percent surge, and the cement sector will bear the brunt of an additional 17.50 percent.

The additional cost will put a financial burden of over Rs310 billion on gas consumers and that’s at a time when people are skipping meals to survive. The new prices will be effective from the bills of January 2023.

Pakistan increases petrol, diesel prices to historic high; check new rates

The development comes on the heels of a massive increase in the prices of petroleum products announced late Wednesday.