ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has given its nod to the revision of natural gas sale pricing for various consumer categories for the fiscal year 2023-24. This adjustment will be effective from November 1, 2023.
The decision was taken in the ECC meeting, presided over by the Finance Minister Dr. Shamshad Akhtar, and 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 from relevant ministries.
As per a press statement from the finance ministry, the sole agenda item at the ECC’s meeting was the revision of natural gas sale pricing for various consumer categories for the fiscal year 2023-24.
ECC Reapproves Gas Pricing Following Federal Cabinet’s Consideration
It’s worth noting that the ECC had previously reviewed the summary submitted by the Petroleum Division on October 23, 2023, and had approved an increase in natural gas prices. However, the Federal Cabinet, in its meeting held on October 30, 2023, referred the summary back to the ECC for reconsideration.
In line with this, during its meeting on Tuesday, the ECC approved the revised natural gas prices, as mentioned in the statement.
