PIAF Opposes OGRA To Seek 47pc Further Hike In Gas Tariff Under IMF Deal
Umer Jamshaid 7 months ago Sat 18th May 2019 | 03:43 PM
As the OGRA, after up to 143 percent hike in gas prices last year, has sought up to 47 percent further increase in the prices of gas for 2019-20
LAHORE (UrduPoint / Pakistan Point News / Online - 18th May, 2019) - As the OGRA, after up to 143 percent hike in gas prices last year, has sought up to 47 percent further increase in the prices of gas for 2019-20, the Pakistan Industrial & Traders Associations Front has criticized the demand, terming it a deal with the IMF, saying the cost of doing business has already increased manifold, leading to constant decline in exports and high trade deficit.PIAF former chairman Irfan Iqbal Sheikh observed that the OGRA has recommended an average of 47 percent hike in Sui Northern Gas Pipelines Limited (SNGPL) system and 28 percent in Sui Southern Gas Company (SSGC) system which would severely damage the industry.
He said that it is unfortunate that the decision to seek an increase in gas tariffs came at a time when Pakistani rupee has taken a plunge in open and interbank markets days after the announcement of a deal between the International Monetary Fund (IMF) and the Federal government.