Islamabad: The federal government has announced that there will be no increase in gas prices for the next six months. This decision was revealed by Minister for Petroleum Ali Pervaiz Malik during a meeting held in Islamabad. The minister emphasized that this relief is provided on the special instructions of Prime Minister Muhammad Shehbaz Sharif, aiming to benefit all consumers.

According to Radio Pakistan, Ali Pervaiz Malik stated that the stability in gas prices is a result of ongoing reforms in the sector. He highlighted that the increase in circular debt within the gas sector has been halted, and no new debt is forming. An agreement has also been reached to transfer surplus LNG cargo from Qatar to the global market, which aids in maintaining the current prices.

The minister assured that gas supply to domestic consumers nationwide is uninterrupted and no local gas fields are currently closed. The meeting also disclosed that gas supply hours have been extended, now running from 5 am to 10 pm each day.

Further details from the meeting revealed that Unaccounted for Gas (UFG) losses have decreased significantly. In Sui Northern Gas Pipeline Limited, UFG losses have been reduced from 9 percent to 5 percent, and in Sui Southern Gas Company, they have dropped from 17 percent to 10 percent.