Islamabad: The Oil and Gas Regulatory Authority Ogra has proposed the government six per cent reduction in the gas prices for consumers.
The Ogra proposed the reduction after a meeting with the Sui Southern Gas Company Limited SSGCL and Sui Northern Gas Company Limited SNGCL and statistical analysis of the data of both the companies.
Earlier, the gas distribution companies had approached the Ogra to allow 101 per cent increase in gas prices with effect from July 1 with the view to meet their revenue requirements.
However, the regulatory authority, after holding public hearing, rejected the demand of gas companies.
The Ogra had cut the price of SSGCL by Rs18. 3/mmbtu (2pc) and SNGCL by Rs40. 9/mmbtu (6.1pc).