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Gas load shedding will continue in Pakistan due to depleting gas reserves says caretaker Power Minister Muhammad Ali in a statement.
Gas will be provided to consumers for eight hours daily under the load management plan, as there isn’t enough gas to supply for 24 hours.
The natural gas reserves have reportedly decreased by 18% compared to the previous year.
The minister expressed hope that the gas shortage issue for the industry in December would be partially resolved with the finalization of two liquefied natural gas (LNG) cargoes.
The government is also cracking down on electricity defaulters, having collected Rs16 billion so far.
Additionally, there are plans to change the boards of directors of power distribution companies, and the management of these companies may be handed over to the private sector on long-term concessions.
There is also an impending increase in gas tariffs to address the circular debt issue in the gas sector. As of June 2023, the Oil and Gas Regulatory Authority (OGRA) approved up to 50% increase in gas prices to collect around Rs700 billion from gas consumers.
Pakistanis have been bearing the brunt of huge food and fuel prices since late last year when the government took prior actions to comply with the conditions set by the IMF to unlock bailout funding.
