The cabinet meeting was held under the presidency of Prime Minister Nawaz Sharif in which Petroleum Ministry said in a briefing that Sui Southern and Sui Northern is facing financial difficulties due to not increasing gas price. The Ministry of Petroleum requested to PM and the Cabinet to increase 16 to 60 percent gas price. However the proposal of increase price of gas was rejected by PM.
With respect to the sources, a presentation had been given by Petroleum Minister Shahid Khaqan Abbasi and Secretary Petroleum Abid Saeed on the proposal of increase in gas price to PM last week. During the presentation, PM came to know that Rs50 billion is necessary for gas companies in order to generate gas.
On the other hand, Budget Strategy Paper 2015-16 was also approved by PM during the meeting as PM said while addressing to a meeting that provision of maximum relief to the people should be the main focus of the next budget in order to reach the benefits of stabilization in the economy.
