ISLAMABAD – Prime Minister Shehbaz Sharif has directed the Oil and Gas Regulatory Authority (OGRA) to introduce an advanced digital system to ensure greater transparency and curb hoarding and profiteering in the oil and gas sector.
The directive was issued during a meeting between Prime Minister Shehbaz and a World Bank delegation led by the institution’s Country Director, which presented a set of policy recommendations.
The prime minister ordered the formation of a committee to review the recommendations and assess the proposed measures.
He also instructed OGRA to activate a modern digital monitoring system aimed at improving transparency across the oil and gas sector and preventing hoarding and excessive profiteering.
The initiative is intended to strengthen regulatory oversight and promote a more transparent and accountable energy market.
Oil and gas both prices have caused serious trouble to the public at large.
The PM’s statement came a day after OGRA announced fresh hike in LPG prices.
The new adjustment pushes the LPG rate to Rs254 per kg, raising concerns among families already dealing with rising living costs.
Consumers are set to face another blow as the Oil and Gas Regulatory Authority (OGRA) has increased the price of liquefied petroleum gas (LPG) by Rs13 per kilogram for August, pushing up the cost of both domestic and commercial cylinders.
According to the latest notification, the official LPG price has been raised from Rs241 to Rs254 per kilogram. The revised rates will come into force from midnight on August 1, adding further pressure on households already struggling with soaring living costs.
After the increase, the price of a domestic LPG cylinder has jumped by Rs152, reaching Rs3,001 from the previous Rs2,849. Commercial consumers will also feel the impact, with the price of a commercial cylinder climbing from Rs10,961 to Rs11,546.
The latest hike sparked concern among industry stakeholders. LPG Industries Association of Pakistan Chairman Irfan Khokhar urged the government to provide immediate relief to consumers and ensure LPG is available across the country at the officially notified prices.
He also called on the Ministry of Petroleum and OGRA to direct state-owned LPG companies to distribute supplies fairly among licensed marketing companies.
According to Khokhar, transparent and equal distribution would help curb black marketing, prevent profiteering, and improve the availability of LPG at regulated rates, easing the burden on consumers.
