ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has approved a reduction in gas prices for the current fiscal year.
OGRA has sent the decision to reduce the average prices of Sui Northern and Sui Southern to the federal government.
According to an OGRA spokesperson, a 3 percent reduction in the average gas price for Sui Northern and an 8 percent reduction in the gas price for Sui Southern have been proposed.
An OGRA spokesperson said that after the reduction, the gas price for Sui Northern has been proposed to be Rs. 1804.8 paise per MMBTU, and the average gas price for Sui Southern has been proposed to be Rs. 1549.41 paise per MMBTU.
According to an OGRA spokesperson, OGRA will issue a notification of gas prices after receiving advice from the federal government.
An OGRA spokesperson said that advice has been sought from the federal government on gas prices based on slabs.
According to OGRA sources, if the federal government approves, the benefit will be passed on to consumers.
Sources say that the federal government is bound to respond to OGRA within 40 days, otherwise the decision will be automatically implemented.
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