New gas prices will be introduced from July 1 following a notification issued by the government.
The Oil and Gas Regulatory Authority (OGRA) has approved a summary of the escalation of gas prices up to 45%. As per details, the authorities have finalized hiking up the gas rate for SNGPL customers up to 45% and 44% for SSGC consumers. The gas price for SNGPL was increased up to Rs266.58 per mmBtu, fixing the per mmBtu rate at Rs854.52.
Interestingly, the government also increased prices of petroleum products a day earlier. According to the report, new gas prices will be introduced from July 1, following a notification issued by the government.
While talking to the media Federal Finance Minister and leader of the Pakistan Muslim League Nawaz (PML-N) Miftah Ismail said that the government is incurring huge losses in terms of petrol and diesel subsidy and it is necessary to review it.
A subsidy of Rs 91 billion has been given on petrol and diesel. The government has so far increased the price of petrol by Rs 60 in a few days.
