ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Monday announced a reduction in gas prices for the current fiscal year.
According to media reports, the Oil and Gas Regulatory Authority (OGRA), following the public demand, decided to reduce gas prices for the current fiscal year to provide relief to consumers. OGRA has submitted its proposal for average price reductions for Sui Northern and Sui Southern gas to the federal government.
An OGRA spokesperson stated that the proposed reduction includes a 3 per cent decrease in the average gas price for Sui Northern and an 8 per cent decrease for Sui Southern. After these adjustments, the proposed gas price for Sui Northern is Rs 1,804.8 per MMBTU, while the average price for Sui Southern is proposed at Rs 1,549.41 per MMBTU.
The spokesperson also mentioned that OGRA will issue a notification regarding the new gas prices after receiving guidance from the federal government. The federal government has requested advice on the new gas prices based on different pricing slabs.
OGRA officials noted that if the federal government approves the proposed changes, the benefits will be passed on to consumers. The federal government is required to respond to OGRA within 40 days; otherwise, the decision will be implemented automatically.
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