ISLAMABAD - AHMAD AHMADANI - A sub-committee of the federal cabinet has now approved monthly gas price mechanism for the imported gas to be supplied to the country under which prices would be passed on to the consumers after every six months, sources said on Saturday.
The sources told TheNation that a sub-committee of the federal cabinet, which was held under the chair of Law Minister Farooq H Naek on February 21, had given its nod to a summary of petroleum ministry. The ministry sought price determination of imported gas to be done at the end of every month.
It is to be noted here that to change the existing bi-annual price revision mechanism, petroleum ministry earlier decided to introduce certain amendments in the Ogra Ordinance. To meet the objective, Advisor to Prime Minister on Petroleum and Natural resources Dr Asim Hussain, in a letter written to various concerned quarters, had argued that gas prices should be revised on monthly and quarterly basis because the commodity is being imported to overcome the ongoing gas crisis.
“Review of the Ogra ordinance and rules, and the amendments (are) needed thereof to have quarterly and monthly review of prices keeping in mind imported gases to overcome shortage,” a copy of the letter available with this newspaper reads. The Advisor had also advised the Ogra to prepare a draft of amendments that should also include certain changes in gas pricing rules and regulations of the authority. The letter also advised “to review any other amendment in Ogra Ordinance keeping in view the latest shortcomings which have been noted by the Government of Pakistan, the courts and consumers.
It merits mentioning here that Daily TheNation on December 25, 2012 had published a news item with a heading” Now gas prices too to go unstable.”