Federal Minister for Petroleum Ali Pervaiz Malik has clarified that the government has not taken any decision to increase gas prices, and promotion of local fuel resources has been made the main point of energy policy.
Talking to the media, he said that although OGRA had suggested an increase in gas prices, it was not implemented on the instructions of the Prime Minister. According to him, instructions have been given to increase fines against companies selling poor-quality oil, while the margins of oil marketing companies have been made subject to digitisation.
Talking about the Iran-Pakistan Gas Pipeline project, the Federal Minister said that this matter is currently under hearing in the arbitration court; hence, the government is paying more attention to alternative and local energy sources.
On the question related to gas circular debt, Ali Pervaiz Malik said that the government has reduced the flow of circular debt to zero, while a committee has been formed under the chairmanship of the Deputy Prime Minister to find a permanent solution to this issue.
According to energy experts, the decision not to increase gas prices will provide immediate relief to consumers, but in the long term, without improvements in local gas production and the system, financial pressures could increase again.
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