Cabinet revises gas, electricity prices for export sector
Stay tuned with 24 News HD Android App
The federal cabinet has approved gas and electricity rates for five export sectors, reported 24 News HD TV Channel on Friday.
According to the cabinet decision, electricity will be provided to five export sectors at 9 cents per kilowatt. Contrary to the electricity, the cabinet announced to increase the price of gas for five export sectors. The gas will be supplied at $9 per mmbtu while earlier the price of gas was $6 and a half per mmbtu.
These five sectors include textile, leather, carpet, surgical and sports. The rates of gas and electricity will be effective from July 1, while the electricity rate will be from Aug 1 till the end of FY23. Subsidy on electricity and gas will be reviewed on a quarterly basis.
The government will provide a subsidy of Rs 40 billion on gas, while the increase in gas prices for other industries has been postponed.
Ministry of Commerce has sent a letter to the Ministry of Energy. In the letter, it is said that the decision of the federal cabinet should be implemented.