Pakistan likely to get gas prices increased by 75 to 80 %

The Oil and Gas Regulatory Authority (Ogra) has indicated that prices of gas are likely to be increased by 75 to 80 percent in the next fiscal year as such hike has become ‘inevitable’.

While talking to media after a public hearing of Ogra on Monday, Chairperson Ogra Uzma Adil said that “The prices of gas would likely to be increased by 75% to 80%. The new rates will be implemented from the next fiscal year. That surge in gas prices is inevitable”.

She further explained that as the purchase price of gas has increased, affecting the buying-selling difference. Gas rates have not been increased for two years and the increase in the dollar exchange rate is also a factor behind this gas prices increase.

The Ogra chairperson categorically said there is no chance of bankruptcy of any gas company and the government would not let that happen.

Responding to a question concerning reasons behind gas overbilling in winters, the chairperson also said the fourth gas slab and pressure factor were the reasons behind overbilling.

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