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ECC rejects proposal to hike gas prices for industries

By News Desk

February 14, 2024 09:35 PM


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The Economic Coordination Committee (ECC) of the Cabinet has decided not to increase the gas prices for industries, sources said on Wednesday.

The ECC meeting lasted for four hours and witnessed a heated debate on the issue. According to sources, Commerce and Industry Minister Gohar Ijaz strongly opposed the proposal to raise the gas tariff for industries from 10 dollars to 12 dollars per mmbtu, saying that it would put an unbearable burden on the industrial sector and affect the exports.

He argued that the industries had already faced a hike of 110 billion rupees in gas prices in November last year, and another increase of 33 billion rupees would be detrimental to their survival and competitiveness.

The sources said that the ECC members appreciated Gohar Ijaz for fighting the case of industries and rejected the proposal to increase gas prices. However, some sources also claimed that some ECC members were jealous of Gohar Ijaz's influence and popularity among the industrialists.


News Desk


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