ISLAMABAD: Petroleum Minister Musadik Malik said on Tuesday his government would keep the gas prices unchanged until winter months of December and January, Pakistani state media reported, amid rising costs of living in Pakistan.
In February this year, Pakistan’s caretaker government had increased the price of natural gas by up to 67 percent for residential consumers in a bid to meet one of the key fiscal tightening conditions of the International Monetary Fund (IMF) for the final review of its last bailout program, worth $3 billion, that ended in April.
The gas price for protected consumers category of up to 0.25 cubic hectometers (hm3) and up to 0.9 hm3 was increased to Rs200 from Rs121 and Rs350 from Rs300, or between 40 percent and 67 percent, while the rates for non-protected category consuming up to 0.25 hm3 to above 4 hm3 was raised to Rs500 to Rs4,200, or between 5 percent to 25 percent.
Malik denied reports of any further increase in gas tariff and said the government was striving to avoid placing any additional burden on the people, the state-run APP news agency reported.
“If the need arises to provide relief, we will make decisions in consultation with all provinces and move forward together,” he was quoted as saying. “Our aim is to avoid increasing gas prices.”
Pakistan’s inflation rate surged to a historic high of 38 percent in May 2023, but has since declined to clock in at 11.1 percent in July. The central bank has also revised its inflation forecast upwards from 20-22 percent to 23-25 percent for the current fiscal year due to a hike in energy prices.
Pakistan, which imports most of its energy needs, saw days of protests last month over the rising costs of living, mainly fueled by energy price hikes. The protests prompted Prime Minister Shehbaz Sharif to announce a three-month, Rs50 billion subsidy for electricity consumers using up to 200 units a month.
Malik said 86 percent consumers using up to 200 units had been given relief from the federal government, while 98 percent of domestic electricity consumers, who used up to 500 units, had been provided relief by the Punjab government, urging other provincial governments to offer similar relief.
Pakistan to keep gas prices unchanged until winter months — petroleum minister
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Pakistan to keep gas prices unchanged until winter months — petroleum minister
- In February, Pakistan’s caretaker government had increased the price of natural gas by up to 67 percent for residential consumers
- Pakistan last month saw days of protests over the rising costs of living, mainly fueled by exorbitant hikes in energy prices
Pakistan, Egypt discuss regional situation, resolve to promote peace and stability
- Pakistan and Egyptian foreign ministers share views on the situation in Somalia and Yemen
- It follows Israel’s recognition of Somaliland, a Houthi-government deal on prisoner exchange
ISLAMABAD: Pakistan and Egyptian foreign ministers on Sunday discussed the situation in Yemen and Somalia and resolved to promote regional peace and stability, the Pakistani foreign office said.
The development comes days after Israel announced recognizing Somaliland, a self-declared region that broke away from Somalia in 1991 but had not previously been recognized by any United Nations (UN) member state.
Pakistan on Sunday joined the Organization of Islamic Cooperation (OIC) and other Arab and Islamic nations in condemning the Israeli move, which it called a violation of international law. Islamabad has also voiced its support for Saudi Arabia’s diplomatic efforts for peace in Yemen, where the Houthi group and the government recently reached a deal to exchange nearly 3,000 prisoners.
Pakistan’s Foreign Minister Ishaq Dar and his Egyptian counterpart Badr Ahmed Mohamed Abdelatty discussed the regional and global developments during their telephonic conversation on Sunday, according to the Pakistani foreign office.
“They shared views on regional and global developments, especially Somalia and Yemen,” it said in a statement. “They reaffirmed their shared commitment to promoting regional peace, stability and development.”
Pakistan’s foreign office on Saturday issued a separate statement condemning Israel’s recognition of Somaliland.
“Pakistan strongly condemns any attempts to undermine the sovereignty, unity, and territorial integrity of Somalia, and rejects, in this regard, the announcement made by Israel recognizing the independence of the so-called Somaliland region of the Federal Republic of Somalia,” it said.
Somalia’s government has said Israel’s recognition of Somaliland violates its sovereignty, while the African Union has opposed unilateral recognition of breakaway regions on the continent.
The Pakistani foreign office this week also underscored the need to uphold unity and territorial integrity of Yemen.
It expressed hope that Yemeni stakeholders will avoid any unilateral steps and urged all parties to engage constructively toward an inclusive, negotiated political solution of the conflict, following the prisoner exchange deal between the Houthis and the government.
