In a significant blow to household budgets, the price of natural gas in Pakistan has increased by 25.78%, following a government decision aimed at addressing the growing energy crisis and fulfilling commitments to international lenders.
The Oil and Gas Regulatory Authority (OGRA) announced the price hike, stating that it was necessary to bridge the revenue shortfall in the energy sector. The new rates will primarily affect domestic, commercial, and industrial consumers, potentially escalating production costs and inflation across the country.
Economic analysts warn that the increase could have a ripple effect on essential goods and services, further burdening the public amidst an already challenging economic environment. Many citizens and businesses have expressed concern over the decision, calling for measures to alleviate its impact on vulnerable segments of society.
The government maintains that the move was unavoidable to stabilize the energy sector and ensure uninterrupted gas supply during the winter season. However, it has also pledged to introduce targeted subsidies for low-income households to cushion the blow.
This price hike comes as Pakistan continues to grapple with economic pressures, including a depreciating rupee and rising global energy prices.
