ECC still ambiguous over gas prices



ISLAMABAD, Sept. 10 (TNS): The Economic Coordination Committee (ECC) on Monday decided against an immediate increase in gas prices and left the final decision to Prime Minister Imran Khan, local media quoting sources reported.

Finance Minister Asad Umar chaired an ECC meeting in Islamabad and a hike in gas tariff was mulled over.

“The ECC has prepared guidelines for an increase in gas tariff,” reports added.

“A final decision on the hike in gas prices will be taken by Prime Minister Imran Khan,” the reports further said.

Further, the ECC decided to provide fertilizer factories with 50 per cent local gas and 50 per cent LNG.

“The LNG bills will be divided equally between the fertilizers companies and the government,” reports added.

Stating that all fertilizers companies will continue production on full capacity, sources said, “Fertilizers will be imported to meet the demand for urea.”