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Monday, July 15, 2024  
08 Muharram 1446  

Gas prices to see massive hike soon

Gas companies will also supply blended gas with RLNG
File photo.
File photo.

Gas prices for non-protected consumers could see an increase of upto 129% while protected consumers could also see an increase through fixed rates, sources told the Business Recorder.

The increases for non-protected consumers could include hikes for domestic consumers by up to 129%, bulk 25%, commercial 136%, export industry 71%, non-export industry 117% and CNG 144%.

However, domestic cosumers, who are classified as those using less than 0.9 hm3, could only see increase in fixed rate from Rs10 to Rs400 an increase of 3900%. Fixed rates for non-protected consumers could also see changes between 117% to 335%.

The increase in gas prices is aimed at increasing revenues of of gas companies over and above their requirements. The gas companies have already racked up shortfalls of Rs46 billion from July to September this year.

The higher gas rates will also cover diversion to RLNG over the winter months.

Gas reserves in Pakistan are depleting at a compund rate of 5-7% per year. The Sui companies shall offer blended gas based on the availability of natural gas and RLNG in 60:40 ratio to the export industry while 20:80 ratio to the non-export industry.

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