PM Shehbaz expresses dismay over increase in gas prices

By Muhammad JuniadPublished On 26 Mar 2024

ISLAMABAD: Prime Minister Shehbaz Sharif has expressed his anger over the recent increase in the price of gas and decided to review the performance of the Oil and Gas Regulatory Authority (OGRA).

Prime Minister Shehbaz Sharif has issued orders to the Ministry of Energy to complete 16 tasks in one to three months, while also directing them to submit a forensic audit report on the recent increase in gas prices in one month.

The Prime Minister has expressed his anger over the recent increase in the price of gas and has directed to submit a report on gas infrastructure, gas theft, and poor performance in three months.

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It has been decided to review the performance of the OGRA and gas companies. It has also been directed to immediately set up an inter-ministerial commission to monitor the Iran-Pakistan gas pipeline project.

The instructions have been issued to the Power and Petroleum Division to prepare a solution for revolving credit, to submit a plan for developing a new industrial zone to supply surplus electricity, within two weeks.

It should be noted that the Oil and Gas Regulatory Authority (OGRA) is hearing the request of Sui Northern to increase the price of gas by 155%.

Sui Northern Gas Pipelines Limited (SNGPL) has proposed a price of Rs 4,489 per MMBtu, increasing the gas price will increase the bills by an average of 155%.

The price of gas has increased by 600% in one year before this.