Islamabad: The government has prepared to further increase gas prices for domestic, fertilizer, CNG, and cement sectors starting from August in negotiations with the International Monetary Fund (IMF).
According to media reports, the IMF has proposed an increase in gas prices from August in the share plan. It has been suggested to increase the bill for protected and unprotected consumers by Rs. 100 to Rs. 400. However, commercial users, including tandoors, would not be subjected to a gas price hike.
Negotiations have been held with the IMF mission on tariffs, circular debt, and reforms for the gas sector. In addition to this, discussions have also taken place on the dividend scheme to reduce the circular debt of the gas sector. The Finance Ministry has confirmed that the IMF mission has been briefed on these proposals.
The IMF has presented three plans to reduce the circular debt, and an agreement has been reached to timely share data on receipts, reforms, and tariffs with the IMF.
In addition to gas sector reforms, a significant agreement has been reached to boost the budget for the Benazir Income Support Programme (BISP) from Rs470 billion to Rs530 billion for the next financial year. Proposals to expand the number of beneficiaries and their stipends are also under consideration.
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