ISLAMABAD: Petroleum Division clarifies that the news published in Business Recorder that the CCI approves 25 percent hike in sale price of gas on January 30, 2024 is inaccurate and contrary to facts.

Petroleum Division clarifies the matter for knowledge of general public that there was no decision on gas prices in CCI. The clarification is also made to the paragraph stating “CCI has approved increase in sale price of natural gas to third parties on commercial basis from 10 percent to 35 percent.”

Third parties on commercial basis: CCI approves 25pc hike in sale price of gas

The CCI considered the proposal of Ministry for 50 percentage share of gas sale to third parties. However, the CCI decided to increase third party sale of gas from existing 10% to 35% on competitive basis. This share increase has been wrongly associated to price increase and is, therefore, corrected for information of all.

Copyright Business Recorder, 2024