ISLAMABAD: Minister of State for Petroleum Dr Musadik Malik on Friday denied the government had increased the rate of gas for any sector, being provided to consumers on networks of SNGPL and SSGC, turning down reports circulating in media about the price-hike.
However, according to press statement issued by Finance Ministry on Thursday, the Economic Coordination Committee (ECC) of the Cabinet approved the proposed revision in consumer gas sale prices with up to 335 percent increase in consumer-end gas prices from July 1 to generate about Rs666 billion in revenue for two gas utilities during the current fiscal year.
Also read: Petroleum minister denies gas price increase for any sector
Petroleum Division submitted a summary on the natural gas sale pricing FY 2022-23. It was submitted that since FY 2015-16, the gas prices were not revised in line with revenue requirements determined by Oil and Gas Regulatory Authority (OGRA), according to press statement issued by Finance Ministry.
Minister of State for Petroleum Dr Musadik Malik in his press conference on Friday claimed “The gas price has not been increased in the country for any of its sector. It is the same that was two months before.”
He said that his ministry had prepared a framework, comprising suggestions especially to save 50 per cent of the country’s total population, which constituted poorest of the poor people, from the gas price hike when it would be revised/determined by OGRA under the new law.
The suggestions would be presented in the Federal Cabinet for consideration and approval, however, it would be the prerogative of Prime Minister Shehbaz Sharif to take the final decision, he added.
“If the Federal Cabinet agrees with our suggestions, the gas price for 50 per cent citizens would either reduce or stay unchanged,” he said.
