Gas prices in Pakistan are anticipated to witness a significant increase in the coming weeks, just ahead of the International Monetary Fund’s (IMF) economic review.
The Ministry of Petroleum has prepared a summary proposing the hike, which could see gas prices soaring from Rs302 to Rs600 per MMBtu.
Industry sources suggest that this impending price hike will have far-reaching consequences, particularly for fertilizer factories that rely on gas as a crucial feedstock for their operations.
Fertilizer manufacturers may face a considerable surge in costs as they are expected to secure gas at a rate of Rs 1580 per MMBtu, a substantial increase from the current rates.
Furthermore, there is a looming possibility of a Rs556 increase in the price of gas for fertilizer factories.
