Ogra Approves Domestic Gas Price Rise Up To 74.42 Percent
January 11, 2023 / By Zunair Tahir / Pakistan News
The Oil and Gas Regulatory Authority (Ogra) approved price increases of 74.42 percent and 67.75 percent for the two gas firms Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC).
Ogra granted the requests of the two firms, allowing SNGPL to increase its average gas rates by Rs406.28/mmBtu for the current fiscal year and SSGC to boost its average gas rates by Rs469.28/mmBtu.
With effect from July 2022, the two corporations had sought the regulator for increases of Rs1,294.02/mmBtu and Rs667.44/mmBtu, respectively.
The federal government has been informed of Ogra’s decision, and it is obligated to advise the regulatory authority of the minimum charges and selling prices for each category of retail users of natural gas within 40 days for publication in the official gazette.
The federal government must make sure that the selling prices recommended by Ogra do not go below the firms’ required revenue, as assessed by the authority, according to Ogra’s ruling.
It further said that Ogra will notify the pricing determined in case the federal government would not respond within 40 days.
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