The increase in gas prices up to 74% starting July 1, 2022, has been allowed by the Oil and Gas Regulatory Authority (OGRA). Sui Southern gas’ price increased by 67.75%, while Sui Northern gas price increased by 74.42%. Sui Northern will see a gas price hike of Rs 406 28 paisa per MMBtu, while Sui Southern will see a price increase of Rs 469 28 paisa per MMBtu. Sui Northern’s new gas price would be Rs 952 17 paise per MMBtu, while Sui Southern’s gas prices have been set at Rs 1161 91 paise. When the federal government approves the rates, implementation will begin in July of this year. If the government does not approve the rise within 40 days, implementation will begin on July 1 of 2022.
The coalition government has been using the PTI government’s decision to halt the implementation of the agreement with the IMF and push us into a labyrinth of issues to excuse the rising inflation for the poor. The leaders of the political parties who make up the coalition government were fully aware that the previous administration had allowed inflation to rise by adopting all of the IMF’s absurd criteria, which is harming the average person. The nation and its citizens will be rescued from the economic mud by the team’s development of stronger financial and economic policies.
To prevent the country’s economy from imploding and going bankrupt, the ruling coalition claimed that they accepted the challenge of winning the election and serving out the assembly’s constitutional term. However, due to their lack of authority, the coalition government was unable to address the problem of inflation. Currently, it doesn’t appear like the coalition government will be able to do away with the IMF, and the implementation of all of the IMF’s loan programme requirements will be a constant burden on the government.