LAHORE: The Oil and Gas Regulatory Authority (Ogra) has again sought information from 14 public and private companies, including the Oil and gas Development Company Limited (OGDCL) and the Sui Southern Gas Company (SSGC), by Feb 21 to determine the justification of LPG prices in the light of the Lahore High Court directions.

Ogra served reminders after the companies failed to provide information to it earlier.

The companies gives notices are: the OGDCL, the SSGC, MOL Pakistan Oil and Gas Company, Byco Oil Pakistan Limited, Jamshoro Joint Venture Limited, United Energy Pakistan Limited, Byco Petroleum Pakistan Limited, Ocean Pakistan Limited, Pakistan Petroleum Limited, Pak Arab Refinery Limited, National Refinery Limited, Pakistan Oilfields Limited, Pakistan Refinery Limited and Attock Refinery Limited.

The authority seeks information regarding monthly sales, price per metric ton, annual sales revenue and detail of direct and indirect expense of the last three years. The authority warned of penalty if the orders are not followed.

After industry’s concerns, the authority on Friday said it would come up with another `reasonable price` for the LPG next week after completing internal assessment and consultation process with stakeholders.

In a press conference, Ogra authorities conceded that the regulator notified previous LPG prices in line with the existing LPG policy without making a fair analysis.

“We are examining the fresh LPG price proposed by the petroleum ministry and have sought comments and records from stakeholders before notifying it,” said Orgra’s Noor Haque.

Ogra Executive Director Misbah Yaqub said the LPG market was still deregulated as rules were not amended. He, however, said the regulator had set the price in line with the existing policy, which allowed it to determine a reasonable price.

Published in Dawn, February 19th, 2017