Petroleum Minister Musadik Malik announced on Tuesday that the government will maintain current gas prices until December and January.
Earlier this year, Pakistan’s caretaker government increased natural gas prices for residential users by up to 67 percent.
The increase was announced to meet a key condition of the International Monetary Fund (IMF) during the final review of its $3 billion bailout program, which wrapped up in April.
Petroleum Minister Musadik Malik has dismissed rumors of another gas price increase, assuring that the government aims to avoid additional burdens on citizens. He stated that any decision to offer relief would be made in consultation with all provinces.
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Despite a historic inflation peak of 38 percent in May 2023, inflation has since decreased to 11.1 percent by July. However, the central bank has revised its inflation forecast to 23-25 percent for the current fiscal year due to rising energy costs.
Pakistan, facing protests over rising living costs due to energy price hikes, saw Prime Minister Shehbaz Sharif announce a three-month, Rs50 billion subsidy for electricity consumers using up to 200 units per month.
According to Malik, 86 percent of consumers using up to 200 units received federal relief, while 98 percent of those using up to 500 units benefited from Punjab’s relief.
