The government has decided not to cut gas prices from July 1.
According to the report of Moqar Qaumi newspaper, the government has decided not to cut gas prices from July 1, 2024, in the presence of OGRA’s decision to cut gas prices by 10 percent for the next budget year.
Instead, as per the IMF order, it has hiked the gas price for Captive Power Plants (CPPs) to Rs 250 per MMBtu from the current price of Rs 2750 per MMBtu.
It has been decided to increase it to Rs 3000 per MMBtu.
The government will increase the gas prices of captive power plants by Rs 250 per MMBtu from July 1, 2024, and the remaining increase of Rs 700 per MMBtu will be implemented from January 1, 2025.
According to the newspaper report, the government has decided to maintain gas prices at current levels for all categories except CPPs and thus after meeting the revenue requirements of the government for the next financial year, 110- 115 billion is expected as additional revenue.
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