Saturday, August 13, 2022

Gas more expensive for export and industrial sector

The government has made gas more expensive for the export and industrial sectors.

According to media reports, the gas rate for the export sector has been increased by Rs 530 per mmbtu and the gas rate for the industrial sector has been increased by 700 metric million British thermal units.

Gas rates for export and industrial sectors have become more expensive by 60 to 80 percent, gas for export sector has been increased from Rs.820 to Rs.1350 and gas for industrial sector has been increased from Rs.850 to Rs.1550 per mmbtu.

Spokesperson of the Ministry of Finance Rana Ahsan has said that the increase in gas and electricity rates was forced, the government is still giving concessional gas to the export and industrial sectors.

Rana Ahsan Afzal said that a subsidy of 40 billion rupees has been kept in the budget for the gas of the export sector. The purpose of the subsidy is that the export sector can compete in the international market.

Last day, in the ECC meeting chaired by Finance Minister Miftah Ismail, RLNG gas rate was approved for 5 export sectors.

Ugas will be provided to the export sectors at $9 per mmbtu while it was decided to provide electricity to the five export sectors at 9 cents per unit, the new rates will be applicable from August 1, 2022.

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