ISLAMABAD: The Pakistan Economy Watch (PEW) has said that approval of 100 per cent hike in the Unaccounted for Gas (UFG) limit to the gas companies and Ogra will increase the prevailing energy crisis and inflation in the country and affect the plan to import LNG.
PEW President Dr Murtaza Mughal said that the government has approved UFG limit at 7 per cent which is 1 per cent in Bangladesh, enhancing it to 14 per cent will transfer tens of billions from masses to the accounts of SSGC, SNGPL and their influential shareholders, said Dr Murtaza Mughal.
He said that Ogra and gas utilities should try to reduce increased theft, mismanagement and leakages to benefit themselves and their shareholders seeking increased profitability and abstain from burdening consumers.
Dr Murtaza Mughal said that UFG is a way to legalise theft which gas companies admit to have reached Rs30 billion per annum while the actual amount is said to be around Rs120 billion.
He said that the former chairman Ogra Taquir Sadiq illegally hiked UFG by 2 per cent benefitting shareholders by Rs 50 billion and attracting attention of Supreme Court. He landed in jail but his decision was not reversed which is amazing.
Now the gas stakeholders are pressurising government to accept their unjust demands which were kept pending for long in the interest of masses, he informed.
