AT a time when the power and gas consumers are already perturbed over high utility bills and finding it difficult to pay them, Oil and Gas Regulatory Authority (OGRA) has taken a decision of increasing natural gas prices up to 213.7% for domestic consumers and also sent a summary to the government to be notified and make it effective from January next year.
In our view, there is no justification at all for such a massive raise and one fails to understand the formula adopted by the regulator for increase in the gas prices. If implemented, it will trigger a new wave of inflation and price hike in the country and which the people will fail to absorb and definitely there will be a strong reaction to it against the government. Surprisingly the regulatory authority has also recommended 31% increase for consumers falling under the category of roti tandoor, commercial, industry and the CNG. This comes as the government a few months back withdrew the gas hike for tandoors to bring down the prices of Roti to provide relief to the poor masses. Increase in the price of industry will also not augur well for the economy which is struggling to enhance its exports and make its products competitive in the world markets. The very recommendation by the OGRA goes against the government’s steps to check price hike. We, therefore, will propose the government to outrightly reject the OGRA’s summary and rather seek a briefing from its officials about the formula being used to determine the gas prices. Since overall economic situation stands improved, it is time for the government to extend maximum possible relief to the masses who had pinned great expectations from incumbents to bring visible change in their lives. Hit hard by the high inflation are the fixed income and salaried class and they should be taken care of by enhancing their salaries.
