Report : Iftikhar uddin
Inflation already have gone sky high and People of Pakistan are reeling in poverty Prices of all daily usage commodities have increased tremendously . Gas prices were increased 140% by PTI government and slabs revised .As a result of that increase in gas prices bills were more than double for the month of January and February 2019. People of different cities made protests and asked Prime Minister to take action while PM Imran Khan directed authorities to reimburse the 3.2 billion extra amount collected by these inflated controversial bills .No further action or work have been done yet in this regard.
People are already worried about the increase of 140% in gas sector and revised slabs. While Government planed for another 41% hike in gas prices for new financial year that will start right from 1st July .
To calculate gas prices on the bases of dollar to rupee rate government gave permission to Petroleum division to presume new dollar rate for the financial year 2019-20. They made an approval of 41% further hike in gas prices to meet revenue requirements which is facing shortfall due to increase of dollars rates . They were informed that by meeting dollar rate as Rs150 will help to decrease in shortfall of two major companies .
Later on a plan was submitted by Petroleum division for financial sustainability in gas sector during financial year of 2019 to 20 .
Petroleum Division Projected a sales revenue of around 437 billion and revenue required 594 billion plus . PD(Petroleum Division ) asked ECC to direct OGRA to consider gas prices on presumed dollar rate of Rs180 for the financial year 2019-20 and should approve and apply new increased prices right from 1st July 2019 .
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