Pakistan boosted gas tariffs for the first time in nine months as it tries to meet commitments for a $6 billion (Dh22 billion) International Monetary Fund bailout package.
The increase in the charges range from Rs173 (Dh3.8) per metric million British thermal unit to 463 rupees/mmbtu for domestic consumers, according to the Pakistan Oil and Gas Regulatory Authority’s notification.
Prime Minister Imran Khan’s administration reached an accord for a bailout package with the IMF in May, in which it committed to curtail energy sector losses. The loan package is subject to the approval of the fund’s executive board.
The government last raised the utility tariff in October as the country faced a balance of payment crisis due to current account and fiscal deficits, and depleted foreign-exchange reserves.
The tariff for the textile industry increased by Rs180/mmbtu, while that for the cement sector rose by Rs302. Other industries face a Rs241/mmbtu increase.