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ECC Reviews Gas Prices

Meeting of the economic coordination committee was held in Islamabad with finance minster Asad Umar in the chair.

Prices of gas were reviewed in the meeting where as meeting also decided to import 100,000 ton fertilizer to provide relief to farmers' community.

This was stated by Information Minister Chaudhry Fawad Hussain while briefing about the decisions of the ECC meeting.

The information minister said a new system of subsidy will be evolved in such a manner that increase in gas prices does not affect the poor lot but the affluent could contribute to reduce deficit of this sector. He said final decision in this regard will be taken by Prime Minister Imran Khan.

He said the gas sector is facing a deficit of 156 billion rupees and gas theft has also increased during the last five years.

Chaudhry Fawad Hussain said price of the cylinder of liquefied petroleum gas also increased by 70 percent during the recent months. He said measures will be taken to reduce the price of LPG.

The minister said the ECC also decided to import 100,000 ton fertilizer to provide relief to the farmers' community.

He said a bag of urea is available at 1615 rupees, while it is imported at 2575 rupees, and the burden of the remaining 960 rupees will be borne by the government.

Chaudhry Fawad Hussain said gas will also be provided to the local fertilizer plants so that the requirement could be met.