By Ali Imran
ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has sought another hike in gas tariff by 137.62% per Metric Million British Thermal Unit (MMBtu).
Gas consumers are expected to see another massive hike in tariff which was sought by the Sui Northern Gas Pipelines Limited (SNGPL).
The gas company sought the implementation of the increased tariff by Rs1,715 per MMBtu from June 2023. The company sought a fresh hike to cover income requirements in its plea.
The SNGPL stated in its plea to the Oil and Gas Regulatory Authority (OGRA) that it would face a shortage of funds worth Rs181.51 billion in the fiscal year 2023-24, therefore, the gas price should be fixed at Rs2,961.98 per MMBtu.
The current gas price is Rs1,246.49 per MMBtu, whereas, the company seeks a hike of Rs1,209.14 per MMBtu in terms of arrears, whereas, an increase of Rs56.48 per MMBtu was sought in terms of rupee devaluation.
The OGRA will hear SNGPL’s plea on December 11. Last month, it was learnt that the caretaker government decided to increase the gas prices in Pakistan again.
Speaking to the media, Caretaker Finance Minister Dr Shamshad Akhtar said that gas prices will increase from January 2024 as Pakistan has informed the International Monetary Fund (IMF) regarding the review of the power tariff.
