Ogra to hold public hearing on massive gas price hikes today
LAHORE (MNP) – The Oil and Gas Regulatory Authority (Ogra) is set to hold a public hearing today (Monday) in Lahore on the suggested increase in gas tariffs – the third in the current fiscal year – after the Sui Northern requested for up to a whopping 147% hike.
With the next hearing scheduled for Wednesday (March 27) in Peshawar, the Sui Northern has requested an increase of Rs2,646.18 per mmbtu, setting a new average price of Rs 4446.89, after it argued that it has estimated a revenue shortfall of Rs189.18 billion.
If the request is approved, then the increase in gas price for the consumers in Punjab. Khyber Pakhtunkhwa and Islamabad will be applicable from July 1.
On the other hand, the Lahore Chamber of Commerce and Industry (LCCI) as well as All Pakistan Textile Mills Association (APTMA) have declared the plan as cruel move and decided that they will be strongly oppose the same at the hearing.
LCCI Vice President Adnan Butt says the gas prices in Pakistan are already much higher than the rest of the world and the any further hike will force the closure of factories.
Similarly, the APTMA is of the view that the Sui Northern authorities should be asked about their performance and the gas and electricity prices must be reduced.
