Karachi, September 25, 2023: The caretaker Minister of Energy Muhammad Ali on Monday expressed concerns regarding the gas industry and stated that the hike in gas tariff is unavoidable for the improvement of the gas sector.
The stakeholders of the energy sector held a meeting during which the caretaker Energy minister explained to the participants that 60 percent of low-income consumers will not burdened by more than Rs 500, while, the high-income consumers will face a greater hike in gas tariffs.
He said that the final announcement regarding the petroleum prices will be made on September 30, he rejected the rumors about the decrease in the petroleum prices and said that it is too early to comment regarding the petroleum prices, the ongoing trend of decrease in the value of the dollar is anticipated to have a positive impact.
Meanwhile, the purchase of crude oil is also being observed in the light of international market conditions.
Muhammad Ali mentioned that the consumers will face the same load shedding of gas – during the months of winter – as last year.
The caretaker minister stated that the circular debt of the gas sector has reached Rs 2.9 trillion. The gas sector is obtaining a daily loss of Rs 1 billion, resulting in an annual loss of Rs 350 billion.
