Massive increase in gas prices in Pakistan: Report

Massive increase in gas prices in Pakistan: Report
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LAHORE – The Oil and Gas Regulatory Authority (Ogra) has stated that the gas tariff would be increased in the next fiscal year, terming the revision ‘inevitable.

Talking to newsmen on Monday, Ogra Chairperson Uzma Adil said that the prices of gas would likely to be increased by 75% to 80%.

The official listed down the reasons behind the revision saying, the purchase price of gas has increased but rates have not been jacked up for two years adding that the exchange rate of dollar was also a factor.

The Ogra chief assured that there was no chance of bankruptcy of any gas company and the government would not let that happen.

To a query about reasons behind gas overbilling in winters, the chairperson replied that the fourth gas slab and pressure factor contributed to the overbilling.

“The consumers who were overcharged will be refunded. The prime minister’s committee will determine who was responsible for overbilling,” she observed.

Economy