ISLAMABAD – The caretaker federal government has decided to increase natural gas prices ahead of winter season in the country, it emerged on Monday.
Reports citing sources from the Ministry of Finance feared that the circular debt in gas sector would surge by Rs46 billion during the current fiscal year, adding that the International Monetary Fund (IMF) has expressed concerns in this regard.
The loss of gas companies has increased by Rs46 billion from July to September 2023 as total circular debt has surged to Rs2,700 billion.
Keeping in view the prevailing situation, the government has decided to jack up the price of sui gas by more than 100% before the economic review. If the sui gas price is not increased, there will be a shortfall of Rs185 billion, reports said, adding that there will be shortfall of Rs21 billion if the price of RLNG is revised up for consumers.
A summary suggesting an increase in gas prices has been prepared and it would be tabled in next meeting of the Economic Coordination Committee (ECC).
