The Economic Coordination Committee (ECC) of the Cabinet met today to discuss a summary submitted by the Petroleum Division for an upward revision of the indigenous gas tariff for industry (captive power) as well as non-protected domestic slabs.
The ECC following a thorough discussion decided to approve an upward revision in gas tariff for captive power plants from Rs. 3,000 per metric million (mmbtu) to Rs. 3,500 per mmbtu to ensure the required revenue for the gas sector during FY 2024-25. However, it did not agree to increase the tariff for domestic consumers to protect them from additional burdens. The ECC, however, instructed the Petroleum Division to take necessary measures for imposing a grid transition levy on the captive power plants to enhance the energy sector efficiency.
The meeting was chaired by Federal Minister for Finance Senator Muhammad Aurangzeb with Federal Minister for Petroleum Mr. Musadik Masood Malik, Minister for Power Sardar Awais Ahmed Khan Leghari, Minister of State for Finance and Revenue Mr. Ali Parvez Malik, Chairman OGRA, Chairman SECP, Federal Secretaries, and senior officers from the relevant divisions in attendance.