Shehbaz asks govt to withdraw hike in gas price
Last updated on: 18 September,2018 09:33 am
Shehbaz took a jibe at federal govt over doing experiments.
LAHORE (Dunya News) – Pakistan Muslim League Nawaz (PML-N) president Shehbaz Sharif has on Monday demanded govt to withdraw hike in gas price.
Shehbaz added that the government which came to power on slogan of giving relief has gradually taken the same away from the under-privileged segment of the society.
Shehbaz took a jibe at federal govt over doing experiments instead of giving concrete policies. Shehbaz feared inflation would increase in the days to come due to this decision.
Earlier, Economic Coordination Committee (ECC) had given a go-ahead for increasing the gas prices.
Finance Minister Asad Umar directed to pour minimal load on poor domestic consumers of gas while the hike was finalized for the elite class.
The tax on the import of Liquefied Petroleum Gas (LPG) was minimized by 10 percent. Sources say that LPG prices will decrease through imports.
At present, SNGPL and SSGC are facing a loss of Rs156 billion each year due to the subsidy given on gas prices. Ogra has determined Rs275 billion revenue requirements for SNGPL and Rs211 billion for SSGC. This includes Rs29.4 billion previous year’s shortfall of SNGPL.
On September 10, ECC had postponed the decision regarding further increase in gas prices. It concluded that additional discussions will be held with all stake holders on the matter.