Islamabad: The Economic Coordination Committee has rejected the Petroleum Division’s summary for an upward revision of the gas tariff for domestic consumers, aiming to protect them from additional financial burdens. The meeting, chaired by Finance Minister Muhammad Aurangzeb, took place today in Islamabad.

According to Radio Pakistan, the ECC engaged in thorough discussions and agreed to approve an upward revision in the gas tariff for industry captive power plants, increasing it from 3000 rupees per MMBtu to 3500 rupees per MMBtu. This decision is aimed at ensuring the required revenue for the gas sector during the fiscal year 2024-25.

Additionally, the Economic Coordination Committee instructed the Petroleum Division to take necessary measures for imposing a grid transition levy on captive power plants. This move is intended to enhance efficiency within the energy sector.