Pakistan Peoples Party (PPP) and Pakistan Muslim League-Nawaz (PML-N) have rejected the proposed rise in gas prices by 235 percent. PPP senator Sherry Rehman Saturday said the Oil and Gas Regulatory Authority (Ogra) has proposed pushing up the gas tariff by up to 235 per cent. This decision will put an additional burden of Rs 175 billion on the masses.
"The masses who are already reeling from poverty won't be able to endure more inflation," she said, adding that the Pakistan Tehreek-e-Insaf (PTI) government is fanning protests through its measures.
The senator said that the ruling PTI was forcing the opposition to protest through such kind of steps. The opposition party's leader further said that it seems the government has given Ramazan package of price hike to the people and asked them to stay calm.
Meanwhile, Opposition Leader in National Assembly Shahbaz Sharif termed sinking economy a threat to national security. He said the sky high prices would create difficulties for the people.
The Pakistan Muslim League-Nawaz (PML-N) leader demanded OGRA to withdraw the suggestion of increasing the prices. Earlier today, OGRA has recommended up to 235 percent hike in gas prices. It has suggested to reduce gas slabs to 6 from 7 and also proposed to increase gas cost by 204 percent for domestic users.
Following the recent increase in rate of US dollar, Compressed Natural Gas (CNG) rate has also been jacked up by Rs 3 per liter, taking the new rate to Rs 82.79 per liter.
In this regard, All Pakistan CNG Association (APCNGA) has claimed that the rate of CNG is interlinked with the rate of the US dollar. Pakistan is expected to adopt tough measures as part of its deal with the IMF, which investors speculate may include further currency devaluation.
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