Increase in gas rates necessary to improve economic condition: Omar Ayub

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Petroleum Minister Omar Ayub
Petroleum Minister Omar Ayub says the PTI government inherited gas prices from the last government.

Chairing a meeting in Islamabad on Tuesday, he said increase in gas rates was necessary to improve the economic condition of gas companies.

The Minister said gas prices had not been increased since 2015 despite OGRA recommendations for it. This resulted in accumulation of unrecovered amount of over 180 billion rupees for both SNGPL and SSGC up to 30th June 2018.

The last government admitted his mistake of not increasing the gas prices at the ECC meeting held on May 17 last year.