Govt set to gas bomb industries next month

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Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that gas prices for all sectors, except domestic consumers, will be increased next month.

Talking to reporters on Thursday, Abbasi said the government was forced to increase gas prices because of no progress on the Iran-Pakistan gas pipeline project.

He said the Iranian authorities have refused financial assistance to lay the pipeline in Pakistan’s territory. “Due to international sanctions the Iranians cannot impose penalty on Pakistan for not accomplishing the project in the announced timeline,” he said.

The minister said that progress on import of LNG is underway and import of 400MMCFD LNG will started by November 2014.

He said that gas demand for domestic consumers is eight billion cubic feet but currently there was a shortage of over four-and-half billion cubic feet gas. “If gas is supplied to the CNG sector then the domestic consumers will be deprived of this facility,” he said.