Islamabad [Pakistan], June 30 (ANI): Pakistan's Oil and Gas Regulatory Authority (OGRA) announced a gas price hike for the majority of consumers, power plants, and industrial sectors, effective July 1, ARY News reported.

The announcement has been issued through a formal notification, which comes as part of the government's comprehensive approach to match electricity rates with cost recovery and regulatory compliance, as per ARY News.

The notification mentions that gas price in Pakistan will not be changed for domestic consumers in terms of tiered rates.

The monthly charges for home users will increase. People with some protection will now pay Pakistani Rupees (PKR) 600 each month, which is an increase from PKR 400. Those without protection will see their monthly fee rise from PKR 1,000 to PKR 1,500.

High-usage households consuming more than 1.5 cubic meters of gas will face a further increase, with fixed charges jumping from PKR 2,000 to PKR 2,400.

The Economic Coordination Committee (ECC), led by Finance Minister Muhammad Aurangzeb, accepted the updated pricing model during the current session, as per ARY News.

The OGRA gas price hike also includes a 10 per cent increase in tariffs for gas-powered power plants and industrial users. This move is aligned with structural benchmarks agreed upon with the International Monetary Fund (IMF), which advocates for rationalising energy subsidies and shifting toward targeted support for low-income consumers.

This gas price hike in Pakistan is part of a broader fiscal strategy aimed at reducing the circular debt in the energy sector and ensuring uninterrupted gas supply to high-priority sectors.

Earlier on May 31, the price of Liquefied Petroleum Gas (LPG) was increased by 54 paisas per kg (Pakistani Rupees) in Pakistan, ARY News reported.

According to a notification issued by the Oil, Gas and Regulatory Authority (OGRA), new LPG price is set at PKR 248.37 per kg, effective from April 1, as per ARY News.

The price of an 11.8 kg domestic LPG cylinder has increased by PKR 6.40, bringing the new price to PKR 2,930.71. (ANI)