The Oil and Gas Regulatory Authority (OGRA) has released a new notification regarding gas prices after receiving approval from the Economic Coordination Committee (ECC). Contrary to expectations, there will be no reduction in gas prices for domestic consumers this financial year, despite earlier proposals for a 10% reduction not being implemented. Effective from July 1st, OGRA has announced an increase in gas rates for captive power plants (CPPs) by Rs 250 per MBTU. This adjustment raises the current price from Rs 2,750 to Rs 3,000 per mmbtu for CPPs. Sources indicate that OGRA had recommended the reduction in gas prices for domestic consumers, but the decision awaits government action. The notification has sparked discussions on the implications for both consumers and industrial sectors reliant on gas, underscoring ongoing concerns over energy pricing policies.

Credit: Independent News Pakistan