75 to 80 pct hike in gas price likely, says OGRA chief

LAHORE: Chairperson Oil and Gas Regulatory Authority (OGRA) has said that the hike in gas prices is inevitable, ARY News reported on Monday.

Chairperson OGRA Uzma Adil was speaking during a public hearing on hike in gas prices here.

The chairperson of the gas regulatory authority said that the gas tariff not enhanced in past two years, due to which the difference between buying and selling price has further widened. The devaluation of Pakistani rupee against dollar is also a factor behind the proposed hike in gas price, OGRA chief said.

An increase of 75-80 percent in prices is likely and the new rates will come into force from July 1, she said.

Uzma Adil informed that the OGRA has sought Rs 732 per MMBTU (Million British Thermal Unit) per unit hike in gas price.

Ms Adil said that the pressure factor was one of the reasons behind over-billing in winter. The consumers which were overcharged will be refunded their money, she said.

A committee constituted by the Prime minister will determine the people responsible for over-billing, she added.

The representatives of the Sui Northern Gas Pipelines Limited (SNGPL) and other companies also presented various reasons for demand of hike in gas prices in the hearing.