ECC decides against immediate hike in gas prices, leaves final decision to PM

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ISLAMABAD : Information Minister Fawad Chaudhry has said the Economic Coordination Committee (ECC) has decided against an immediate increase in gas prices and left the final decision to Prime Minister Imran Khan.

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

“The ECC has prepared guidelines for an increase in gas tariff,” Chaudhry said while addressing the media after the meeting.

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

“The gas sector is in the worst situation,” the information minister stressed.

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

“The LNG bills will be divided equally between the fertiliser companies and the government,” Chaudhry said while adding that all fertiliser companies will continue production on full capacity.

“ECC has further decided to import fertilisers to meet the urea deficit.”

“The volume of fertiliser imports will be decided later,” the informtion minister said.

Chaudhry continued, “Farmers are a very important part of the prime minister’s economic policy.”

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