Gas consumers in Pakistan are bracing themselves for a potential surge in gas tariff as Sui Northern Gas Pipelines Limited (SNGPL) filed a request to the Oil and Gas Regulatory Authority (OGRA) to hike gas prices by a staggering 137.62%.
This move comes on the heels of recent electricity price hikes, adding more strain to consumers’ budgets, aims to increase the cost by Rs 1,715 per mmbtu effective from July 1, 2023.
The request from Sui Northern outlines a substantial projected shortfall of Rs 181.51 billion for the fiscal year 2023-24. The company seeks to set the gas price at Rs 2961.98 per mmbtu, a considerable surge from the current rate of Rs 1246.49 per mmbtu.
The detailed application highlights a specific increase of Rs 1209.14 per mmbtu for arrears and an additional hike of Rs 56.48 per mmbtu attributed to rupee depreciation.
In response to SNGPL's application, OGRA is scheduled to conduct a hearing on December 11 to evaluate and deliberate upon the proposed price increase.
