No decision on gas prices in CCI, clarifies Petroleum Division

BusinessNo decision on gas prices in CCI, clarifies Petroleum Division

ISLAMABAD, Pakistan:  The Petroleum Division has denied a news report about the hike in gas prices, saying that there has been no decision on gas prices as yet.

“The title of the news article “CCI approves 25pc hike in sale price of gas”, published in daily Business Recorder on January 30, 2024 is incorrect and contrary to facts,” said a statement issued by the Petroleum Division on Tuesday.

   

The statement said that the Petroleum Division clarifies the matter for knowledge of general public that there was no decision on gas prices in the Council of Common Interest (CCI).

Clarification is also made to the paragraph stating “…. CCI has approved increase in sale price of natural gas to third parties on commercial basis from 10 percent to 35 percent…”.

The Council of Common Interest (CCI) considered the proposal of the Ministry for 50 percentage share of gas sale to third parties.

However, the CCI decided to increase third party sale of gas from existing 10% to 35% on competitive basis.

The statement said that this share increase has been wrongly associated to price increase and is, therefore, corrected for information of all.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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