ISLAMABAD, Jan 11 (FD): The Oil and Gas Regulatory Authority (OGRA) has jacked up prescribed prices of natural gas up to 74 percent to meet the revenue requirements of the major gas utilities including SNGPL.
The increase in gas prices was notified as already distressed masses are facing inflation, and now the gas regulator has dropped a ‘gas bomb’ with a huge increase.
In a notification, OGRA notified the surge of Sui Northern Gas Company Limited (SNGPL) and Sui Southern Gas Company (SSGC) for household consumers, the commercial sector, tandoors, captive power plants, and general industries, including the export-oriented sector.
OGRA approved increases of Rs406.28 and Rs469.28 per million British thermal units (mmBtu) for SNGPL and SSGC, respectively.
The regulator mentioned that the average gas price for SNGPL would climb to Rs952.17 per unit from the existing rate of Rs545.89 per mmBtu, while that of SSGCL would reach Rs1,161 per unit from the current Rs692.63 per mmBtu.
OGRA now sent its decision to the federal government, and authorities would decide on it within 40 days.
