(Web Desk) - The caretaker government on Wednesday increased gas tariffs across Pakistan.
According to sources, there will be Rs100 per mmbtu increase for protected consumers, while non-protected consumers will experience a hike of Rs300 per mmbtu.
Similarly, commercial consumers of gas will face a considerable Rs900 increase in prices per mmbtu, say sources.
The CNG sector is also not exempt from this adjustment, with sources indicating a significant Rs170 per mmbtu price hike. Furthermore, fertilizer factories will experience a slight increase in gas tariffs.
An ECC meeting of the cabinet was held in Islamabad in which the Federal Board of Revenue (FBR) proposed an increase in sales tax for the auto sector manufacturing and assembling vehicles at the local level.
After a detailed discussion, the ECC cabinet approved the process for determining the 25 per cent sales tax rate on locally manufactured and assembled vehicles.
Under this approved proposal, a sales tax of 25 per cent will be levied on vehicles worth Rs4 million or with 1400cc engines. Meanwhile, the same tax imposition is expected to continue in the upcoming budget.
The imposition of a 25 percent sales tax on 1,400cc vehicles is likely to result in price hike.
Meanwhile, All Pakistan Textile Mills Association (APTMA) North chairman Kamran Arshad has strongly opposed the increase in gas price for Export Oriented Units (EOUs) from Rs2,400 to Rs2,950/MMBTU, saying this increase would be disastrous for the textile industry.
The APTMA chairman said the gas tariff was Rs1,100/MMBTU in January last year which was enhanced to Rs2,400/MMBTU in November 2023 and is now expected to be raised to Rs2,950 MMBTU from the current month.