The Oil and Gas Regulatory Authority (OGRA) has recommended an increase in gas prices for the current financial year, with separate adjustments for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC). Under the requirement set by the International Monetary Fund (IMF) for timely notification of gas tariffs.
According to media reports, SNGPL’s gas price will rise by 8.71%, setting the average price at Rs 1,778.35 per mmBtu.
For SSGC, the increase will be 25.78%, taking the average price to Rs 1,762.51 per mmBtu.
The approved amendments have been submitted to the federal government for final approval, which will determine the extent of their implementation. If approved, the new prices will be effective from January 1, 2025 for consumers on both Sui companies.
OGRA noted that gas companies initially requested a price hike of up to 208.67%. Last month, the regulatory body held a public hearing to deliberate on these proposals before making its final decision.