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Govt prepares to notify 45% hike in gas tariff on IMF demand

Govt prepares to notify 45% hike in gas tariff on IMF demand

ISLAMABAD, OCT 02 (DNA) — Caretaker government will announce to hike gas price on the demand of the International Monetary Fund (IMF). Former PDM government had deferred the decision of the gas price hike.

The International Monetary Fund (IMF) has demanded to enhance the gas prices in the country by 45 percent. The IMF has demanded to generate 435 billion rupees revenue with increase in gas rates, sources said.

The lender has not been prepared to show flexibility in its demand for hike in the gas tariff, sources said. Sources shared that the government has prepared a strategy to save small consumers of gas from the rate hike by avoiding increase for them.

“Caretaker government will save 64 percent gas consumers from the price hike,” according to sources. The government is expected to announce 45 pct hike in gas rate with an official notification soon, sources said.

The gas tariff hike will come into force from back date of July 1st, sources said. “The gas consumers will clear their arrears from July to September bills. The gas tariff hike will also be enforced over domestic consumers having increased gas consumption”, sources said.

According to sources, commercial consumers, bread-makers and hotels will likely to consume gas at enhanced rate. The gas rates will likely to be enhanced for industrial consumers, CNG stations, fertilizer factories and steel industry.

The IMF has demanded an increase in gas tariff from 45 to 50 percent on account of ‘Fuel Adjustment Charges’ from July 01 while emphasizing a crackdown on electricity and gas theft to improve recovery. — DNA

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