ISLAMABAD: A few hours after the taxpayer “mini-budget’, federal government late Wednesday evening up prices of gasoline and natural gas to historic highs in attempt to appease the International Monetary Fund (IMF) for unlocking V critical credit tranche.
After receiving advice from the Petroleum Department, the Oil and Gas Regulatory Authority (OGRA) notified the gas sale. price jump from 16 to 113 pc for categories of gas consumers of Sui Northern Gas Pipelines Limited and Sui Southern Gas Company Limited.
According to the OGRA, the Ministry of Energy (Oil division) on Wednesday (February 15, 2023) decision of Economic Coordinating Committee, ratified by the Federal Cabinet, in respect of gas sale price effective from January 01, 2023 AND, OGRA, after receiving of specified advice, reported sale prices against each category of retail consumers of natural gas. Said notice is available in OGRA official website.
According to the details, domestic category of gas consumers who use 100 cubic meters of gas will face growth by 16.6% in gas price How new price of gas for such gas consumers were fixed at 350 rupees per MMBTU, while before they paid 300 rupees for MMBTU. for using 100 cubic meters of gas in month.
Just like gas price for domestic gas consumers who use 200 cubic meters of the gas was jacked up up by 32% and new gas price for these internal consumers were set Rs 730 for MMBTU, while they used to pay Rs 553 for MMBTU. for using 200 cubic meters of gas.
So is gas price for domestic gas consumers who use 300 cubic meters of gas has been increased by 69% since new gas price for these gas consumers were fixed Rs 1250 for MMBTU, while they used to pay Rs 738 for MMBTU. for using 300 cubic meters of gas. For gas consumers who use 400 cubic meters of gas, gas price increase 99pc as gas price for these consumers were fixed Rs 2200 for MMBTU, while they used to pay Rs 1107 for MMBTU. for using 400 cubic meters of gas.
In addition, gas consumers who use more over 400 cubic meters of gas, gas price hike it’s 124pk like gas price for such consumers were set Rs 3277 for MMBTU, while they used to pay Rs 1460 for MMBTU. for using 400 cubic meters of gas.
Gas price for commercial gas users were robbed up by 28.6% as their gas price was increased from Rs 1283 to Rs 1650 per MMBTU. For power sector, gas price increased by 22.8%, and new price for V power sector was fixed at a price of Rs 1050 per MMBTU, while previously this sector paid Rs 857 per MMBTU.
For the export gas sector price has been increased by 34% since the gas price for this sector has been increased from Rs 819/MMBtu to Rs 1100/MMBtu. Gas price for the compressed natural gas (CNG) sector increased by 31 percent as gas price for The LNG sector has been increased from 1370/MMBtu to Rs 1800/MMBtu.
For the fertilizer sector, gas price increased by 46% as new gas price was fixed at a price of Rs 1,500 per MMBTU, while previously this sector paid Rs 1,023 per MMBTU.
Gas price for the cement sector increased by 17.46%. new gas price for this sector has been increased from Rs 1277 to Rs 1500 per MMBTU.
It is worth mentioning that this new massive gas price the increase will apply from January 1 to June 30, 2023 at the time of collection of Rs 50 per month from protected category of household gas customers, while Rs 500 per month from unprotected residential gas customers was notified by OGRA.
According to sources, because of the giant gas price Campaign, 310 billion rupees will be collected in six months. However, this decision of gas price the increase will not apply to domestic consumers who use 50 cubic meters of gas.
