Prime Minister Shehbaz Sharif has taken decisive action in response to the concerning rise in gas prices across the nation, issuing a series of directives aimed at addressing the issue comprehensively.
Recognizing the urgency of the situation, Prime Minister Sharif has ordered a thorough audit of both gas companies and the Oil and Gas Regulatory Authority (OGRA). This audit will entail a forensic examination of the recent escalation in gas prices, with a clear mandate for a detailed report to be submitted within the next month.
In addition to investigating the price surge, Prime Minister Sharif has also directed efforts towards understanding the state of gas infrastructure and combatting instances of theft. He has set a timeline of three months for the submission of a comprehensive report on these matters.
Furthermore, Prime Minister Sharif has prioritized the resolution of the circular debt plaguing the oil and gas sectors. To this end, he has tasked relevant authorities with developing a strategic plan within a tight timeframe of two weeks.
In a proactive move, the Prime Minister has initiated the establishment of an inter-ministerial commission tasked with closely monitoring the performance of the vital Iran-Pakistan gas pipeline.
Emphasizing accountability, Prime Minister Sharif has underscored the need to scrutinize administrative mismanagement within the sector, ensuring that all aspects contributing to the current situation are thoroughly examined and addressed.
Expanding his vision beyond immediate concerns, Prime Minister Sharif has also called for a proposal to harness the surplus electricity generated in the country. He aims to utilize this excess energy to power economic zones, potentially driving growth and development in key sectors.
Meanwhile, amidst these initiatives, the Oil and Gas Regulatory Authority (OGRA) is actively reviewing a plea from SNGPL for another potential increase in gas prices, highlighting the ongoing challenges that must be navigated to stabilize the energy sector.
