Petroleum division floats proposals for significant gas price hikes

The Petroleum Division has crafted proposals to increase gas prices, with a potential burden reaching up to 3900% for the most vulnerable consumers, reported 24NewsHD TV channel.

Sources suggest a staggering 3900% increase in fixed charges for the lowest gas consumers, potentially escalating the monthly cost from Rs10 to Rs400.

For protected gas users, a proposal is on the table to boost fixed monthly charges significantly.

Sources indicate an alarming 200% increase in gas prices, with a specific proposal targeting a 172% hike for domestic consumers. Other consumers might face an even higher surge, with a proposed increase of 198.33% in gas prices.

If approved, these changes are anticipated to take effect from October 1. The proposals are expected to undergo scrutiny and approval from the Economic Coordination Committee (ECC) and the Cabinet. This potential surge in gas prices raises concerns about the impact on households and businesses, particularly for those in lower-income brackets.

The Petroleum Division's move has sparked discussions about the rationale behind such significant hikes and their potential ramifications on the economy.

As consumers await official decisions, the proposals add to the ongoing discourse surrounding the cost of essential utilities and the government's strategy to balance fiscal considerations with public welfare.

Reporter: Awais Kiyani