ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Tuesday notified massive increase of 214 percent and 245 percent in the gas prices for domestic consumers and roti tandoors, respectively.
For commercial and CNG sectors, the gas regulator allowed an increase of 31 percent in the prices. The OGRA also jacked up the gas price for the fertiliser sector by 153 percent.
A notification has been forwarded to the federal government which stated that the new prices will be applicable from January 1, 2020.
Gas rate up to 50 units of usage has been raised from Rs121 to Rs380 per mmBtu, and the fresh increase of Rs53 [from Rs300 to Rs353] has been made to the consumers of 100 units per month; however consumers with more than 200 units but less than 300 units per month will be charged less.
Over the last few months, the government has started increasing petroleum levy rates to partially recoup a major revenue shortfall faced by the Federal Board of Revenue. The levy remains in the federal kitty unlike GST that goes to the divisible pool taxes and thus about 57 percent share is grabbed by the provinces.
Petrol and HSD are two major products that generate most of the revenue for government because of their massive and yet growing consumption in the country. Total HSD sales are touching 700,000 tonnes per month versus 600,000 tonnes of petrol. On the other hand, sales of kerosene oil and LDO are generally less than 10,000 tonnes.
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