Framework made to save 50% citizens from gas price hike
Dr Musadik added that it was distressing that the ex-government did not procure Liquefied Natural Gas (LNG) cargoes that were available at the reduced rate of $4 per MMBTU (Metric Million British Thermal Unit) two years ago He said although the price of crude oil had declined in the world market, the rate of refined fuel did not decrease at the matching ratio. He claimed that before leaving the government, the Pakistan Tehreek-i-Insaf (PTI) signed laws that gave the federal government no ability to adjust the gas price set by the Oil and Gas Regulatory Authority (OGRA) ISLAMABAD: Minister of State for Petroleum Dr Musadik Malik on Thursday said, “The ministry had designed a broader framework under which 50 percent of the country’s total population, including the poorest of the poorest people, would be rescued from the gas price hike.”