ISLAMABAD – Sui Southern Gas Company (SSGC) on Wednesday has sent a summary to Oil and Gas Regulatory Authority (OGRA), suggesting to hike gas prices from July 1.
According to details, SSGC has recommended Rs 17.42 per Million British Thermal Unit (mmbtu) increase in gas prices from July 1.
Last year, the authorities had assured International Monetary Fund (IMF) to increase the gas prices under economic inspection program, following to which the officials have decided to take step.
On the other hand, experts said that the hike in prices would spark inflation in the country that will further irked locals.
Earlier, Federal Finance Minister Senator Ishaq Dar has announced Rs 1.5 increase in petrol and Rs 1.40 in diesel price.
Dar added that OGRA wanted the government to increase petroleum prices even more but government has agreed to increase prices upto 1 rupee.
He also said that OGRA had also recommended to increase high octane, light diesel and kerosene oil prices but they will remain same while the government will bear heavy losses.
The minister has also increased time limit of 4% withholding tax on bank term deposits and tax return file.