The Energy Minister of Pakistan has announced that energy prices will surge for the next four months from July to October and will start declining in November or December. Minister of state for petroleum and minister of Energy Musadaq Malik and Khurram Dastagir, respectively, said that the previous government had delayed the tariff adjustment in the prices of natural gas & energy. OGRA came many times with the suggestion of a price increase, but the previous government had given no attention to the issue.
They said the previous government had no arrangements for furnace oil imports, LNG, & coal when these were available at lower prices. The last government had funds. IMF and World Bank provided loans at low cost and without conditions for Covid measures. Now prices have increased to 300-400 percent. There is also a shortage of supply globally. The government has no option but to increase prices until they cannot achieve the target of reforms for better conditions. Pakistan government has established a commission to analyze the factors behind the current situation and how to handle this. The Pakistan government will launch new schemes in the next two months for the relief of people and to increase the usage of solar energy in the household sector.
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