Caretaker federal cabinet approves surge in gas tariff by 67pc

The caretaker federal government has approved a massive increase in gas tariff per the IMF conditions,  the 24NewsHD TV channel reported.

Sources said it decided to increase gas prices by 67 per cent as the government assured the IMF of notification of gas prices by February 15.

The sources added the increase in gas prices will be applicable from February 1, 2024.

The federal cabinet approved the hike in gas prices as part of the implementation of IMF conditions,  the 24NewsHD TV channel reported.

Sources said it has been decided to increase gas prices by 67 per cent as the government assured the IMF of notification of gas prices by February 15.

The sources added the increase in gas prices will be applicable from February 1, 2024, the sources said.

They said the increase in gas prices is in line with the revenue requirements of the gas companies. The gas tariff will go up for domestic, commercial and CNG sectors, the insiders said, adding that the Petroleum Division had proposed increasing the gas tariff by 67 per cent.

The gas tariff will go up for domestic consumers for the third time in a year. The caretaker government decided to hike gas prices for the second time.