Sarwar said the move would help ease part of the $1.24 billion deficit for state-owned Sui Northern and Sui Southern, the two main suppliers of natural gas that are bleeding cash and subsidising consumers and industries. The decision was taken by the Economic Coordination Committee chaired by new Prime Minister Imran Khan, who has vowed radical economic reforms. Such price rises are politically sensitive in Pakistan, which has enjoyed decades of cheap gas due to its natural resources. However, over the past decade those gas reserves have not been enough and Pakistan experienced a number of shortages until it began importing liquefied natural gas (LNG), which is more expensive than domestic gas. Pakistan is struggling to avert a currency crisis that could force it to seek a bailout from the International Monetary Fund.

Source: Dhaka Tribune September 18, 2018 12:56 UTC