Gas price increases for the residential, commercial, and industrial sectors have been approved by the Economic Coordination Committee of the Cabinet (ECC).
Domestic consumer prices have increased by 43 to 335 percent. The slabs were previously seven, but are now only five.
The government did not raise the gas costs for the second of the current five slabs, which is for users up to 1 hm3, and they will continue to be Rs. 300 per MMBTU.
The cost of gas for the export-focused sector of the economy was also raised, rising from $6.5 to $9 per MMBTU.
The ECC decreased pricing for captive power from Rs. 1,650 per MMBTU to Rs. 1,550 per MMBTU and general industrial from Rs. 1,450 to Rs. 1,350 per MMBTU.
According to the official report that was sent to the ECC, the seven-slab construction will be reduced to five slabs by combining the final two existing slabs.
The slabs up to 0.4 and 0.5 hm3 are planned to be combined, with the proposed pricing for the combined slab being Rs. 173/MMBTU. There will be no minimum fee for domestic purchases.
Up to 0.5 hm3, the price, which was previously Rs. 121 per MMBTU, would rise to Rs. 173/MMBTU, or a 43 percent increase. Up to 1 hm3, the price will stay the same at Rs. 300 per MMBTU.
The price would increase by 26% to Rs. 696 per MMBTU for volumes up to 2 hm3. The current price was Rs. 553 per MMBTU.
The current price of Rs. 737 per MMBTU up to 3 hm3 would be increased to Rs. 1,836 per MMBTU, a 151 percent increase.
The price will rise from the current level of Rs. 1,107 per MMBTU up to Rs. 3,712 per MMBTU for volumes up to 4 hm3, a 335 percent increase. Slabs larger than 4 hm3 have been eliminated.
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