ECC approves hike in natural gas prices

02:39 PM | 17 Sep, 2018
ECC approves hike in natural gas prices
ISLAMABAD - The Economic Coordination Committee (ECC) of Cabinet on Monday approved an increase in gas tariff.

The decision was taken in the committee's meeting with Finance Minister Asad Umar in the chair. The ECC also gave a green signal for the addition of a new tariff slab for sale of gas.

There are, currently, three categories of domestic consumers under which Rs110 are charged per mmbtu from those consuming 100 cubic metres per month, Rs220 from the consumers of 300 cubic meters gas while Rs600/mmbtu are charged from those consuming 600 cubic metres and above.

The hike will be applicable to the higher tariff slabs as the finance minister had issued directives to not burden on common people.

The ECC also decreased the import tax on Liquefied Petroleum Gas (LPG) by ten percent.

Earlier on September 10, the committee postponed the matter pertaining to increase in gas prices and left the final decision to Prime Minister Imran Khan.

The 12-member committee also decided that fertiliser factories will be provided 50% local gas and 50% LNG for production.