Muhammad Ali, the Caretaker Energy Minister, has hinted at a potential reduction in gas prices, citing a decline in LNG costs on the global market.
While speaking informally with journalists, He mentioned that if the currency remains stable, consumers may see a decrease in gas prices come July. He expressed optimism about completing the groundwork for supplying gas to industries at a lower cost of nine cents.
Additionally, Ali highlighted the government's success in preventing the further increase of revolving debt in the gas sector, which currently stands at 2.3 trillion Pakistani rupees.When factoring in interest, the combined revolving debt for the gas and petroleum sectors reaches Rs 3 trillion.
Additionally, Minister Ali highlighted progress on the Iran-Pakistan Gas Pipeline project, stating that the first phase will be completed within a year. The initial phase involves the construction of an 80 km gas pipeline.
Minister Ali reassured that funding for the pipeline project will be sourced from the gas infrastructure cess, without imposing new taxes on consumers. He affirmed that existing funds will be utilized for the initiative, ensuring no additional financial burden on the public.
