The caretaker Minister for Energy, Muhammad Ali, recently addressed concerns surrounding gas prices in the country during a visit to the Lahore Chamber of Commerce and Industry (LCCI). He emphasized that forthcoming announcements would shed light on the expected changes in gas prices.
The Minister emphasized the regional disparities in gas prices, stating that the North experiences higher prices compared to the South. He also highlighted the challenge of insufficient long-term LNG contracts and ongoing efforts to combat electricity theft.
While measures are being taken to reduce the disparity in energy prices, the Minister cautioned that overnight reductions were not possible due to the country’s commitment to the International Monetary Fund (IMF) program. He stressed that all steps needed to be taken carefully in accordance with the IMF program.
During the same meeting, the caretaker Federal Minister for Commerce, Industries, and Production, Gohar Ejaz, discussed the efforts being made to address issues related to Afghan Transit Trade (ATT). He stated that only essential goods would be allowed under ATT to minimize currency flight and smuggling.
Ejaz also highlighted the impact of Afghan transit trade on the surge in the dollar rate and the challenges faced by industry inputs, raw materials, and energy prices due to international market fluctuations. He stressed the importance of unity and collaboration, emphasizing that traders were an asset to the country and that everyone needed to work together for the country’s strength and prosperity.
It is important to note that the caretaker government recently increased the prices of petrol and high-speed diesel (HSD), which sparked widespread criticism and protests due to the substantial price surge amidst already soaring inflation.
Stay tuned for the upcoming announcements regarding gas prices, which will provide further clarity on the changes in store.