The Ministry of Energy has rebutted the news regarding the approval of a 25 percent hike by the Council of Common Interest in the sale price of gas, as published in the daily Business Recorder on the 30th of last month.

In a clarification press release, the Ministry termed the news article as incorrect and contrary to facts.

It further clarified that there was no decision on gas prices in the CCI. It said the Council of Common Interest considered the proposal of the Ministry for a 50 percent share of gas sales to third parties.

However, the CCI decided to increase the third-party sale of gas from the existing 10 percent to 35 percent on a competitive basis. This share increase has been wrongly associated with a price increase and is, therefore, corrected for the information of all.