spot_img
Monday, September 26, 2022
More
    HomeBusinessNo gas price increased for any sector, Musadik clarifies

    No gas price increased for any sector, Musadik clarifies

    -


    ISLAMABAD: Minister of State for Petroleum Dr Musadik Malik on Friday categorically mentioned the federal government had not elevated the speed of fuel for any sector, being supplied to customers on networks of SNGPL and SSGC, turning down speculative experiences circulating in part of media in regards to the price-hike.

    “The fuel worth has not been elevated within the nation for any of its sector.  It [the gas price] is identical that was two months earlier than,” he mentioned whereas addressing a information convention right here.

    He defined that his ministry had ready a framework, comprising ideas particularly to save lots of 50 per cent of the nation’s whole inhabitants, which constituted poorest of the poor folks, from the fuel worth hike when it will be revised/decided by OGRA below the brand new regulation. The ideas could be introduced within the Federal Cupboard for consideration and approval, nevertheless, it will be the prerogative of Prime Minister Shehbaz Sharif to take the ultimate determination, he added.

    “If the Federal Cupboard agrees with our ideas, the fuel worth for 50 per cent residents would both scale back or keep unchanged,” he mentioned.

    Earlier than leaving the federal government, he mentioned, the Pakistan Tehreek-i-Insaf (PTI) made laws below which the Federal Authorities had no authority to vary the fuel worth decided by the Oil and Gasoline Regulatory Authority (OGRA).

    “Below the brand new regulation, in any respect the value is proposed by OGRA, it will be the prescribed price within the nation after 40 days [of submitting the proposal],” he mentioned, including all of the documentation, public hearings on petitions of Sui Northern Gasoline Pipelines Restricted (SGPL) and Sui Southern Gasoline Firm (SSGC) to find out the fuel worth for fiscal yr 2022-23 by OGRA, and different associated correspondence had been accomplished within the November final in the course of the tenure of PTI authorities.

    The incumbent authorities had no position on this analysis of the fuel worth; nevertheless it had solely possibility to save lots of the poor segments of the society, and the wealthy folks must pay the commodity’s revised price. The minister mentioned it was unlucky that the poor folks have been utilizing the costly Liquefied Petroleum Gasoline (LPG) within the nation, whereas those that had a number of geysers, stoves and cooking ranges, have been utilizing a budget pure fuel. The worth of LPG was four-six occasions greater than the pure fuel, he added.

    He mentioned the incumbent coalition authorities had a transparent coverage that it will make utmost efforts and shield poor segments of the society from every kind of extra monetary burdens and unfavorable impacts of inflation.

    Replying to a query, Dr Musadik mentioned it was unlucky that the previous authorities of PTI didn’t procure Liquefied Pure Gasoline (LNG) cargoes that have been out there on the decreased price of $4 per MMBTU (Metric Million British Thermal Unit) two years in the past, which now value $40. “It implies that now per LNG cargo value is round $138 million, which was out there at $12.5 million two years in the past for 2-4 years, however the PTI authorities didn’t pay any heed in the direction of shopping for the commodity.”

    Commenting on the prevailing fuel provide scenario, he mentioned on the community of SNGPL round 670 MMCFD (Metric Million Cubic Ft per Day) was out there in opposition to the common winter demand of 1,170 MMCFD of home customers in Punjab and Khyber Pakhtunkhwa solely.

     




    Source link

    Related articles

    Stay Connected

    0FansLike
    0FollowersFollow
    3,505FollowersFollow
    0SubscribersSubscribe
    spot_img

    Latest posts