ISLAMABAD : The federal government has taken final decision to increase gas prices amid International Monetary Fund (IMF) meeting in order to fulfil conditions of IMF.  Though, final announcement would be made after decision of Oil & Gas Regulatory Authority (OGRA). According to private TV channel, Pakistani team informed IMF mission in Dubai that OGRA has completed hearings over applications to raise gas prices up to Rs 59.26 and Rs 68.64 per MMBTU. Pakistani team added that decision regarding increase in gas prices would likely be announced this week and government will issue notification of new gas prices in the light of OGRA’s announcement.

OGRA officials said that the chairman of Authority is abroad and decision to raise gas prices will take after his return.