The government has decided not to reduce gas prices from July 1 despite OGRA’s decision to reduce gas prices by 10% for the next fiscal year.
According to the IMF’s directive, the government has decided to increase the gas price for captive power plants (CPPs) by Rs 250 per MMBTU, raising the current price from Rs 2750 per MMBTU to Rs 3000 per MMBTU. The government will increase the gas price for 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.
Senior officials of the Ministry of Energy say that the government has decided to maintain gas prices at the current level for all categories other than CPPs. In this way, the government is expected to generate an additional revenue of Rs 110-115 billion after meeting the required revenue needs for the next fiscal year.
