Prices of natural gas, RLNG not being increased: Petroleum Division
- By Web Desk -
- Mar 30, 2019
ISLAMABAD: The Petroleum Division on Saturday said the prices of natural gas and Regassified Natural Gas (RLNG) were not being increased.
Rejecting media reports, sources at the Petroleum Division said that media reports in this regard had no reality, Radio Pakistan reported.
The sources clarified that the gas company had not incurred any loss in respect of sale of RLNG to domestic consumers during the winter season.
Under the Economic Coordination Committee’s decision taken on May 11, 2018, the sources said, the ‘Gas Banking Mechanism’ had already been approved by the Oil and Gas Regulatory Authority (OGRA), “under which RLNG is sold as system gas during the winter season while the same is recovered during the summer season on an on-going and multi-year basis.”
Read More: Petroleum products’ prices likely to go up by Rs11 per litre
These adjustments have been allowed by the OGRA on the basis of final accounts of the company on a ring fenced basis, they said.
On March 29, local media reported that the OGRA had prepared a summary for another increase in rates of petroleum products up to Rs11 per litre from the month of April.
The regulatory authority had suggested the federal government for increasing Rs11.91 per litre in petrol rates from April 1.