ECC approves gas price revision

ISLAMABAD, Oct 31 (Alliance News): The Economic Coordination Committee (ECC) of the Cabinet here on Tuesday approved revision of the natural gas sale pricing for different categories of consumers for the fiscal year 2023-24, with effective from November 1st, 2023.

The Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar presided over the ECC meeting, which among others was attended by the Minister for Privatization, Fawad Hassan Fawad; Minister of Planning, Development and Special Initiatives, Sami Saeed; Minister for Power & Petroleum, Muhammad Ali; federal secretaries, and other senior government officials of the relevant ministries.

 

 

According to press statement issued by the finance ministry, the cabinet committee during its meeting considered the single item agenda regarding the revision of the natural gas sale pricing for different categories of the consumers for the FY 2023-24.

The ECC earlier on October 23, 2023, had considered the summary submitted by the Petroleum Division and approved the increase in the natural gas prices, however the Federal Cabinet in its meeting held on October 30, 2023 had referred back the summary for reconsideration of the ECC.

Accordingly, the ECC in its meeting held on Tuesday, approved the revised natural gas prices, the statement added.

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