PAC Slams OGRA Over Rs. 103 Billion Loss from LNG Pricing Delays

The Public Accounts Committee meeting, chaired by Syed Naveed Qama, reviewed audit objections related to RLNG (Re-Gasified Liquefied Natural Gas) pricing, where delays cost the national exchequer an estimated Rs. 103 billion. Audit officials revealed that the Oil and Gas Regulatory Authority (OGRA) failed to issue an LNG price notification in 2015, creating disputes between buyers and sellers. PAC Chairman Naveed Qamar pressed OGRA for answers: “Why was there such a long delay in issuing LNG price notifications?” OGRA Chairman clarified that Pakistan received its first RLNG cargo on March 29, 2015, after which it was decided that OGRA would set LNG prices. He said that although reports were prepared in 2024 and shared with gas companies, earlier decisions in 2020 to divert imported LNG complicated matters. He added that “many of the pricing issues have now been resolved,” but the committee directed OGRA to remove all remaining obstacles in determining LNG prices transparently