While speaking at the Lahore Chamber of Commerce & Industry, Oil & Gas Regulatory Authority (OGRA) Chairperson Uzma Adil Khan stated that the government has frozen the gas prices for the domestic consumers.
Uzma also stressed that it is the responsibility of the government to decide the sale prices of oil and gas. She mentioned that OGRA is just a regulatory authority which ensures implementation of the policies evolved by the government and acts as a bridge between licensees and the government.
She also said that the purpose of OGRA’s creation was to impart effective and efficient regulations, promote competition, encouraging investment, safeguard public interest and ensure level playing field within the petroleum and gas industry. She said that petroleum prices are being reached through a calculation methodology. After calculating the notified taxes, the government issues the petroleum products prices while gas prices prescribed after hearing.
She also told the audience that new mechanism for processing of the application for licenses is being developed. She said that all details in this regard would be available from the OGRA website while applicant would also be able to fetch information about the status of his application.
LCCI Senior Vice President Amjad Ali Jawa stated that at the start of the current financial year, the government had taken the decision not to increase the gas prices but it is has been revealed that Ogra had suggested a price hike. He mentioned that any increase in gas prices would hit the industry hard, therefore, this idea should be completely shelved. He also said that 5.5pc advance tax has been imposed on the import of LPG that would cause a shortage of this fuel in coming winters. He urged the government that this advanced tax must be withdrawn in the larger interest of industry and the masses.
