Pakistan on Monday announced that it would raise the natural gas price by up to 31 percent from Tuesday.
Shah Mahmood Qureshi, acting minister for Petroleum and Natural Resources, told a press conference that the price increase is due to oil price hike in the international market.
The increase would, however, be not applicable to 91 percent of domestic consumers under the policy, said Quershi.
The gas price was increased depending on how much gas was consumed, with the highest increase rate of 31 percent for the biggest consumer.
The minister said even after the new price increase, the government would still subsidize domestic consumers by 14.3 billion Rupees annually.
Qureshi said no increase has been made in gas pricing for independent power projects with a view to avoid increase in the cost of power production and electricity bill.
Pakistan currently consumes all of its domestic natural gas production.
Source:Xinhua
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