Pakistan
Pakistan: Government hikes gas tariff by 193 percent
Giving more burden on the shoulders of people, the Pakistan government on Monday accepted a massive hike in gas tariff.
The move is expected to give a tough challenge to inflation-weary masses of the financial crisis-hit nation.
The Economic Coordination Committee (ECC) of the Cabinet, which met in the federal capital with Finance Minister Dr Shamshad Akhtar in the chair, gave approval for the hike in the gas tariff up to 193% starting from November 1, 2023, reports Geo News.
The development comes ahead of the International Monetary Fund (IMF) review scheduled later this month that had asked Pakistan to cut the ballooning circular debt in the energy sector.
As per the approved summary, the fixed monthly charges for protected consumers were revised upward from Rs10 to Rs400 and for non-protected from Rs460 to Rs1000 and for higher slabs up to Rs2000, the news channel reported.
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