Pakistan raises gas price up to 45 pc
Islamabad [Pakistan], 4 June 2022 Saturday/ After the hike in petroleum products prices, the Oil and Gas Regulatory Authority (OGRA) has approved the hike in gas prices for Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL).
The gas price hiked up to 44 per cent for SSGC consumers and 45 per cent for SNGPL consumers, ARY News reported. After the hike, the new gas price for SSGC consumers was fixed at Rs1007 with an increase of Rs 308.53 and the new price for SNGPL consumers was fixed at Rs 854.52. The new gas prices will come into effect from July 1 following a notification to be issued by the federal government.
People across Pakistan were already irritated with the hike in petrol price and adding to their agitation, the National Electric Power Regulatory Authority (NEPRA) on Friday has also approved a Rs 7.91 increase per unit of electricity, according to ARY News.
According to a notification issued by NEPRA, the government has increased the basic tariff per unit of electricity by Rs 7.91. The per-unit price has been increased from Rs 16.91 to Rs 24.82, which is a 47 per cent hike in prices.
NEPRA said that the price hike has been made due to an increase in fuel prices and increases in the cost of production. The new rates would be applied from July 2022, it added.
Prime Minister Shehbaz-led government ceded to the demands of the International Monetary Fund (IMF) and removed fuel subsidies, and increased the price of petrol by Rs 30. The development was announced by Finance Minister Miftah Ismail while addressing a press conference in Islamabad.
After the hike, the new price of petrol is set at Rs 209.86, diesel at Rs 204.15, and kerosene oil at Rs181.56.PM Shehbaz Sharif launched a new relief package of Rs 28 billion per month. This comes in the context of the February 28, 2022, announcement by the Imran Khan government of relief measures to reduce prices of petrol and electricity are on account of Opposition pressure and public anger. The measures include a reduction in the prices of petroleum products and electricity tariffs by Rs 10 and Rs 5 respectively along with a number of new schemes including one on tax amnesty.
Imran Khan’s subsidies are perceived to have destroyed Pakistan’s economy for the Shehbaz administration. Now, in this latest relief package announced by the Shehbaz government, the PM said that 14 million poor families, comprising 85 million people, would be given Rs 2000 per family.
He said this was in addition to the monetary assistance being given to them under the Benazir Income Support Programme. “This relief package will be added in the next budget,” Shehbaz said. Moreover, in a veiled attack, Shehbaz also slammed Imran Khan for his allegations against the US for conspiracy to oust him from power.
“A most trusted friendly country — the one that supported us in all difficult circumstances — was made upset. But we have started the rebuilding process,” the premier said in an apparent reference to the United States. RSS/ (ANI)
