Cabinet approves gas and electricity rates for five export sectors

 The federal cabinet on Friday approved gas and electricity rates for five export sectors.

The government has announced to increase the price of gas for five export sectors, gas will be supplied to five sectors at $9 per mmbtu, earlier the price of gas was $6 and a half per mmbtu.

The gas price has been fixed for the current financial year, these five sectors include textile, leather, carpet, surgical and sports. RLNG rate will be effective from July 1, while the electricity rate will be from Aug 1 till the end of FY23.

The government will provide a subsidy of Rs 40 billion on gas, while the increase in gas prices for other industries has been postponed.

On the other hand, electricity has been fixed at 9 cents per kilowatt for five sectors, the price of electricity has been fixed from August 1 to July 31, 2023. Review will be done on quarterly basis.