In yet another bad news for the people of Pakistan on the economic front, gas companies have requested to increase Sui gas prices by up to 53%, effective from July 1, 2024.
According to the report, Sui gas prices are expected to rise by 53.47% for Sindh and Balochistan, while for Punjab, Islamabad, and Khyber Pakhtunkhwa, the proposed increase is 3.66%.
The Sui gas companies have submitted their applications to the Oil and Gas Regulatory Authority (OGRA) to increase the gas prices from the back date.
Sui Northern has proposed an average price increase of Rs 64.16 per MMBTU, raising the average rate to Rs 1,810.38 per MMBTU.
Meanwhile, Sui Southern has requested an average price hike of Rs 669.07 per MMBTU, taking the average price to Rs 1,920.39 per MMBTU.
As per the channel report, the sui gas companies aim to implement these price hikes starting from July 1, 2024. In response, OGRA has sought public feedback on these proposals.
The channel reported that OGRA will hold a hearing on November 5 for the Sui Northern Gas Company’s application, and on November 8 for the Sui Southern Gas Company’s application.
