Gas prices for consumers in Sindh and Balochistan are likely to increase as SOE companies request the Oil and Gas Regulatory Authority (OGRA) to increase prices.
In terms of details, Sui Northern Gas Pipelines Limited (SNGPL) is seeking a price hike of Rs 730.39/MMBTU and Sui Southern Gas Company Limited (SSGCL) is seeking Rs 391.69/MMBTU starting FY 2023-24. SSGC requested OGRA to fix gas price at Rs 1060/MMBTU.
In a statement, the regulator said that SOEs are seeking price increases to determine the estimated revenue requirements/prescribed prices for the upcoming financial year 2023-24.
OGRA will hold one public hearing on SNGPL’s petition followed by two public hearings for SSGCL on March 20, 2023 in Lahore. The first will be held on March 13, 2023 in Karachi and the second on March 17, 2023 in Quetta.
The agency then sends a summary to the federal government after the hearing. Officials said they invited all interested/affected persons including gas consumers and general public to submit their comments, suggestions and requests for intervention.
It should be noted that the Oil and Gas Regulatory Organization (OGRA) increased the price of gas by 113% in February and issued a notice based on the recommendation of the oil sector.
According to this announcement, gas prices in various sectors, including domestic consumers, increased from 16% to 113%. Domestic consumers are divided into 12 categories: sponsored and non-sponsored consumers.
On February 13, the Federal Cabinet’s Economic Coordination Committee (ECC) approved a 112 percent increase in gas prices for domestic consumers.
