People in Pakistan, already grappling with inflation, are likely to face another blow as Sui Northern Gas Pipelines Limited (SNGPL) has proposed a substantial hike in the price of natural gas.
SNGPL, the largest integrated gas company, serves over 7.22 million consumers in North Central Pakistan through a widespread network in Punjab, Khyber Pakhtunkhwa, and Azad Jammu & Kashmir.
The company has filed an application with the Oil and Gas Regulatory Authority (Ogra), seeking a 147 percent increase in gas prices.
The company has proposed this price increase to cover a revenue shortfall of Rs189.18. If Ogra approves the petition, it would impose an additional burden on the public, who are already dealing with rampant inflation.
Expected Gas Prices in Pakistan from July 1
Reports indicate that SNGPL has requested a staggering increase of Rs2,646.18 per metric million British thermal unit (mmbtu) in gas prices. It has also requested the regulatory authority to set the average gas price at Rs4,446.89.The anticipated gas prices would include the additional amount requested by SNGPL, if Ogra approves its application.
Ogra is scheduled to hold a hearing on SNGPL’s plea on March 25 in Lahore and on March 27 in Peshawar.
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