ECC suspends changes in gas tariff

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The Economic Coordination Committee (ECC) on Monday set the principles to determine new gas prices but left the final decision to increase the prices by up to 186% to the prime minister due to political nature of the move and objections raised by the Sindh government. Federal government received a lot of criticism on social media platforms for it as well. Headed by Finance Minister Asad Umar, the ECC, however, approved import of 100,000 metric tonnes of fertilizer to meet the Rabi crop season needs. The Ministry of Finance will pick a subsidy of roughly Rs6.4 billion for a period of four months to sell the key farming input at a subsidised rate of Rs1,615 per 50 kg bag. The Finance Ministry will give a supplementary budget to pay Rs960 per bag subsidy.

Federal Minister for Information and Broadcasting Fawad Chaudhry said in a media briefing.