ECC likely to approve 15% gas tariff hike today

ISLAMABAD: Prime Minister Imran Khan’s Adviser on Finance  Abdul Hafeez Shaikh will chair a meeting of the Economic Coor­dination Committee (ECC) of the Cabinet which is likely to approve 15 per cent hike in gas tariff.

READ MORE:Govt may approve up to 214pc hike in gas prices

The Petroleum Division has sent a summary to the ECC for hiking 5 percent to 15 percent increase in gas tariff. The government had put the summary on hold for gas tariff hike on January 20 due to the controversy over wheat crisis. 

The government has also proposed a significant increase from Rs20 to Rs80 as meter rent for domestic consumers while a hike of up to 245 per cent, 221 per cent, 153 per cent and 32 per cent was also proposed for SNGPL’s special commercial consumers, commercial consumers, fertiliser sector and captive power plants, respectively.

It has also been learnt that the Petroleum Division had sought the federal cabinet’s Economic Coordination Committee’s (ECC) approval for a 192 per cent hike in gas prices for domestic consumers of Sui Northern Gas Pipelines Limited (SNGPL) and 214 per cent increase for domestic consumers of Sui Southern Gas Company (SSGCL) in an apparent bid to meet the revenue shortfall of both companies for fiscal year 2019-20 and meet IMF demands.

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