Islamabad, 3rd October, Baaghi TV: This statement is related to the gas prices summary issued during the Economic Coordination Committee (ECC) meeting of 30th September and the media discussion on it. Some sections of the media have misreported the decisions made in the meeting. Therefore the facts related to the Petroleum Division summary and the ECC decisions are as follows:
In the first summary regarding the revision of the annual gas prices by the petroleum division, the ECC has according to the 1st July 2019 baseline, decided not to raise them for households and tandoors. It was also decided that the applicable GIDC shall be ended under the orders of the Supreme Court for various other consumers and the new prices will be after a raise of a third in tariff under the implemented GIDC.
The second summary is related to the supply of gas through the SSGC system to five industrial export sectors, under which indigenous gas and LNG shall be provided to them. The gas mix shall be provided Rs 930 per MMBTU. This decision is related to decrease in gas production by Sindh during winters and for providing gas during the five winter months till the close of February 2021. After that the resumption of local gas will take place, when the household demand will get back to normal. In comparison, the five export sectors in Punjab shall receive gas at US$ 6.5, equivalent to PKR 1080, per MMBTU.
The government under this formula will allocate gas to the SSGC system, protect the export sector, ensure supply of gas to the industrial sector during the winter months, and it has been agreed upon and made with consultation with industrialists.
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