With imported lng: Traders demand lower gas tariffs

ISLAMABAD: Importers and distributors of LNG are getting over 100% in profit while exploiting consumers which is unjustified, Islamabad Chamber of Small Traders Patron Shahid Rasheed Butt said on Wednesday. The benefit of reduced prices of LNG must reach the masses as well as industries that were suffering from increased cost of doing business, he added. He said that LNG importer and distributors have set high profit margins brushing aside prices fixed by Oil and Gas Regulation Authority (Ogra) which is illegal. He said international oil prices are increasing which will push up prices of LNG making it less attractive for the consumers therefore, a new pricing formula for purchasing gas should be considered. He said that despite brokering a deal to purchase gas at 13.37% of Brent, gas utilities are charging higher rates.

 

Published in The Express Tribune, February 18^th,  2016.

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