Pakistan News Service

Friday Jul 25, 2014, Ramadan 27, 1435 Hijri
Logo Logo
LATEST :
Pakistan News Home -> Top -> News Details

Reversal of deregulation policy, dissolution of OGRA on the cards

06 December, 2012

ISLAMABAD: By reserving the deregulation policy in the country, the government has, in principle, decided to dissolve the Oil and Gas Regulatory Authority (OGRA).

Well-informed sources in the Ministry of Petroleum and Natural Resources told here on Wednesday that the government is considering to reverse over a dacade-old policy of oil and gas sector deregulaion.

Hence the Ogra was set up through an ordinance, therefore, President Asif Ali Zardari is most likelt to issue a fresh ordinance to repeal the Ogra ordinance eventually dissolving the body. The pre would issue the fresh ordinance as soon as the government completes the pre-reqiusite process.

The sources informed that the oil and gas regulatory body has been failed to operate as an effective regulator as was the mandate given to it, therefore, to achieve the desired results, the government has decided its dissolution.

The sources further said that after dissolution of the regulatory body, oil marketing companies would determine the prices of petroleum products while the gas prices would be determined by the gas companies.

However, the Ministry of Petroleum and Natural Resources would be the final authority to approve these final prices of both oil and gas, the source added.

Sources said that government is considering to adopt the same policy regarding the other regulatory bodies in the country which have been failed to complete their mandate.

It is pertinent to mention here that Oil and Gas Regulatory Authority (OGRA) was set up under the Oil and Gas Regulatory Authority Ordinance, 2002 to foster competition to increase private investment and ownership in the midstream and downstream petroleum industry and to protect the consumer interest.

End.

 What do you think about the story ? Leave your comments!

Heading (Optional)
Your Comments: *

Your Name:*
E-mail (Optional):
City (Optional):
Country (Optional):
 
 
Field marked(*) are mandatory.
Note. The PakTribune will publish as many comments as possible but cannot guarantee publication of all. PakTribune keeps its rights reserved to edit the comments for reasons of clarity, brevity and morality. The external links like http:// https:// etc... are not allowed for the time being to be posted inside comments to discourage spammers.

  Speak Out View All
Artilce 6 and Musharraf Trail
Blocking Nato supply line
  Quick Vote Show Results
Question: "In view of the current situation do you think Talks with Taliban should take place only within the ambit of Article 4 of Objectives Resolution that defines our Common Purpose i.e. PM/ President down to all Pakistanis to work till we achieve the rights of Democracy, Freedom, Tolerance and Social Justice for all Pakistanis:"
Yes
No
 
Candid Corner
Exclusive by
Lt. Col. Riaz Jafri (Retd)
No martial law until three elections after NRO: Shehla Raza
Plane crash in typhoon-hit Taiwan kills 47
Suggested Sites