ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has approved a significant hike in liquefied natural gas (LNG) prices, raising rates by up to 28 percent.
The official notification detailing the new LNG tariffs has been issued, signalling a substantial increase for consumers and industries alike.
The notification regarding the new prices of LNG has officially been issued, highlighting a massive hike in prices. Industry analysts believe that the price rise can have far-reaching implications as it might lead to high costs of production of electricity and other manufacturing processes.
OGRA stated that the hike in LNG prices was essential to align with global market trends and rising import costs. It also added that the revision of prices was required to ensure the sustainable flow of gas in Pakistan and fulfil the international contracts of supply.
Consumers should keep a close eye on their utility bills, as the rate change takes effect immediately. The government may devise measures to reduce the burden on low-income groups.
