‘Up to 193% gas price hike’ expected from October 1

The government is gearing up to announce up to a 193% hike in the price of gas, effective from October 1, sources privy to the matter said on Wednesday.

The sources said that jacking up the fixed monthly charges for the protected gas consumers from Rs10 per month to Rs400 per month has been proposed.

According to the proposal, a 172% hike will be made to the gas charges reserved for domestic consumers, while a 193% increase has been proposed for other consumers. 

The caretaker government plans to raise gas tariffs in order to curb the circular debt in line with the commitments made to the International Monetary Fund (IMF).