The businesscommunity has rejected the increase in prescribed gas pricesas well as petroleum prices, Presidential Candidate of Businessmen Panel (BMP) Nasser Hayat Magoon, in a press release issued on Tuesday, said that the present government was adding to the miseries in the life of common man by its negligence to resolve the public issues. “The inadequate supply of gas to domestic users in winter season keeps them far from the cup of tea.” He said that if the incumbent governmenthad imported the LNG on time than the situation has not worsened. The Karachi based Sui Southern Gas Company Ltd (SSGCL) is has failed to meet its revenue requirements for the current fiscal year. Speaking on behalf of business Community Mr Nasser Hayat Magoon said that gas price should be reduced and the well-head gas price in Pakistan was the highest among the regional countries. At benchmark of $40 barrel of oil, the gas well-head price in Pakistan was around $4.08 per mmBtu. In India and Bangladesh, the well-head price ranged between $1.5 to $2.5 per mmBtu, he added. MrMagoon said Oil and Gas Development Company as regulator should tighten up their enforcement on their licenses that contributor of high price is unaccounted for gas (UFG) losses which should be reduced for better financial health of the SSGCL and also to keep the prices low.
BMP rejects hike in gas, petroleum prices
