Approval of 193% increase in gas tariff for domestic, commercial and industrial consumers

Approval of 193% improve in fuel tariff for home, industrial and industrial customers

Pakistan By Oct 23, 2023 No Comments

Islam Abad: The Financial Coordination Committee of the Cupboard has accredited a 193% improve in fuel tariff for home, industrial and industrial customers. The brand new fuel tariff shall be relevant from November 1, 2023.

The rise in fuel tariff was accredited within the Financial Coordination Committee (ECC) assembly of the Cupboard chaired by Caretaker Finance Minister Dr. Shamshad Akhtar.

Within the assembly, varied agenda factors and summaries offered by the Ministry of Trade and Manufacturing, Ministry of Vitality and Petroleum, Ministry of Nationwide Meals Safety and Analysis, Earthquake Reconstruction and Rehabilitation Authority (ERA) and Ministry of Finance had been thought of.

After contemplating the abstract offered by the Ministry of Vitality (Petroleum Division) concerning the revision of pure fuel gross sales costs for the monetary 12 months 2023-24, approve the abstract as per the tariff schedule offered by the Ministry. which shall be relevant from 1st November 2023 as an alternative of 1st October 2023.

The assembly additionally directed to make sure uninterrupted provide of fuel to the fertilizer business, it was additionally determined that the provinces could be requested to work extra proactively to bear the import price.

The ECC additionally accredited the import of 1 million metric tonnes of wheat for the 12 months 2023-24 by way of open tendering course of by way of TCP to take care of strategic wheat reserves.

Additionally Learn: Fuel costs more likely to rise by 193% on IMF situation

The ECC additionally accredited the proposal to encourage the non-public sector to import sure milling wheat underneath the Ministry of Finance’s notification dated November 14, 2008 whereas assembly the standards prescribed within the Import Coverage Order 2022. The ministry has additionally been directed to conduct third celebration verification.

The abstract of the Ministry of Finance concerning the institution of Nationwide Credit score Assure Firm Restricted to assist in extending credit score to Small and Medium Enterprises (SMEs) was additionally thought of and accredited.

Finance Ministry sources additional mentioned that through the assembly, a technical supplementary grant of Rs 48.4 million was additionally accredited for IRA.

Within the assembly, after taking an in depth evaluate of the abstract offered by the Ministry of Trade and Manufacturing concerning the measures to fulfill the necessities of urea for the Rabi season 2023-24, it was additionally determined to instantly import two lakh metric tons of urea fertilizer. Accredited.

Minister of Commerce, Trade and Manufacturing Gohar Ijaz, Minister of Communications, Railways and Maritime Affairs Shahid Ashraf Tarar, Minister of Planning, Improvement and Particular Initiatives Sami Saeed, Minister of State for Energy and Petroleum Muhammad Ali attended the assembly.

IT and Telecom Minister Dr. Umar Saif, Prime Minister’s Advisor on Finance Dr. Waqar Masood, Deputy Chairman Planning Fee Muhammad Jahanzeb Khan, Chairman SECP, Federal Secretaries, and senior authorities officers of different related ministries additionally participated within the assembly. occurred

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