The Economic Coordination Committee has rejected the Petroleum Division's summary for the upward revision of the gas tariff for domestic consumers with a view to protecting the domestic consumers from additional burden.

The meeting of the Economic Coordination Committee was held in Islamabad today, with Finance Minister Muhammad Aurangzeb in the chair.

The ECC, however, following a through discussion decided to approve upward revision in gas tariff for industry captive power plants from 3000 rupees per MMBtu to 3500rupees per MMBtu to ensure required revenue for the gas sector during Fiscal-year2024-25.

The Economic Coordination Committee also instructed the Petroleum Division to take necessary measures for the imposition of a grid transition levy on the captive power plants to enhance the energy sector efficiency.