In a welcome move, the Oil and Gas Regulatory Authority (Ogra) has announced a massive reduction in the price of Liquefied Petroleum Gas (LPG) for May.
According to a notification issued by Ogra, the price of LPG per kilogram has been reduced by Rs 11.88, bringing the new price to Rs 238.46 per kilogram.
This decrease in LPG prices has resulted in a substantial reduction of Rs 140.18 in the cost of a domestic LPG cylinder, which now stands at Rs 2,813.85. This move is expected to bring relief to households and commercial users who rely on LPG for their cooking needs.
Read More: LPG price hike domestic cylinder up by Rs45
The decision comes as welcome news for consumers who rely on LPG for cooking and heating purposes. OGRA’s move to lower LPG prices is expected to ease the financial burden on households, particularly amid ongoing economic challenges.
Oil & Gas Regulatory Authority is an agency of the Government of Pakistan, responsible for regulating the oil and gas sector in Pakistan. It was established in 2002.[1][2]
History
On March 28, 2002 the Federal Government of Pakistan established Oil and Gas Regulatory Authority (OGRA), in pursuance of the Oil and Gas Regulatory Authority Ordinance, 2002. The Natural Gas Regulatory Authority (NGRA) was subsumed by the OGRA, all properties and works done by the NGRA were transferred to and protected under the OGRA Ordinance.
Organization
Chairman/Chairperson heads OGRA, along with three Members to oversee Gas, Finance and Oil affairs related to authority. Each member can serve for maximum two terms subject to retirement on attaining the age of 65 years. Chairman and members are being appointed by federal government through a competitive process on tenure basis in accordance with the provisions of the OGRA Ordinance. Masroor Khan is current chairman OGRA, along with Mohammad Naeem Ghouri (Member Finance from July, November 2022) and Zain-ul-Abideen Qureshi (Member Oil from 1st October 2020).
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