OGRA notification delay for gas price hike sparks uncertainty

November 03, 2023 (MLN): In an attempt to comply with the conditions of the IMF, the caretaker federal government of Pakistan implemented a significant increase in gas tariffs, effective from November 1, 2023. However, as of now, the Oil and Regulatory Authority (OGRA) has yet to issue an official notification.

As a result, there is a growing concern among the public and stakeholders.

While the government's intentions aim to strengthen the nation's financial position, the delay in OGRA's official notification has generated uncertainty and confusion among consumers, businesses, and investors, and this occurs at a time when the IMF Mission is in Pakistan for the very first review of the SBA.

Speaking to Mettis Global, Imran Ghaznavi, Spokesperson OGRA said, “We are currently awaiting the official document to be received from the Ministry.”

To recall, the Economic Coordination Committee (ECC) on Monday approved the revised natural gas sale pricing for different categories of consumers for FY24.

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