ISLAMABAD: The Petroleum Division on Tuesday rejected a news report appearing in a section of media titled “CCI approves 25% hike in the sale price of gas,” terming it incorrect and contrary to facts.
The Petroleum Division clarified in a statement that there was no decision made regarding gas prices in the CCI.
The statement further addressed the paragraph indicating that the CCI had approved a hike in the sale price of natural gas to third parties on a commercial basis from 10% to 35%.
The clarification said that the Council of Common Interests (CCI) had indeed considered the Ministry’s proposal for a 50% share of gas sales to third parties.
However, the CCI ultimately decided to raise the sale of gas to third parties from the existing 10% to 35% on a competitive basis.
Petroleum Division’s Clarification
The Petroleum Division said that this hike in share should not be misconstrued as a price increase.
It said that the share increase had been inaccurately associated with a price hike and clarified this for the information of all concerned.
