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Wednesday, May 29, 2024  
21 Dhul-Qadah 1445  

After Sui Southern, Sui Northern also demands increase in gas prices

New prices could put an additional burden of Rs79 billion

After Sui Southern, the Sui Northern Gas Pipelines has also demanded an increase in the price of gas for consumers.

If the Oil and Gas Regulatory Authority decides to increase the price of gas, consumers will have to carry an additional burden of Rs79 billion over the next year.

According to the OGRA, two hearings have been fixed to hear SNGPL’s petition for an increase in prices. The first hearing will be held in Lahore on March 25, while another will be held in Peshawar on March 27.

SNGPL has asked for the price of gas to be fixed at Rs4446.89/MMBTU. The new prices, if accepted will amound to 147% increase.

The SSGC has already asked for increase in the price of its gas well for which hearings will be held in Karachi on March 18 (today) and March 20 in Quetta.

Sui Sothern has asked for the price to be fixed Rs1740.80/MMBTU for the next year.

Both companies are facing massive revenue shortfalls if revenues are not icreased. SNGPL has projected losses of Rs189 billion while SSGC has projected losses of Rs46 billion.

The prices of gas have already been increased twice in the current fiscal year. Prices were increased by nearly 200 percent in November and another 67 percent in February.

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