31pc hike in gas prices from July 1

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31pc hike in gas prices from July 1

ISLAMABAD: Consumers will face a 28 to 31 percent hike in gas prices from July 1, as the Oil and Gas Regulatory Authority (OGRA) has allowed the two main gas utilities � the Sui Southern Gas Company Limited (SSGCL) and the Sui Northern Gas Pipeline Limited (SNGPL) � to provisionally increase the gas prices.

The gas utilities will increase their prices from the beginning of the new fiscal year (2008-09) to meet their financial requirements.

OGRA has allowed the SNGPL to make adjustment upwards of 31 percent (Rs 65.16 per Million British Thermal Units (MMBTU)) from July 1, 2008, on a provisional basis to meet the estimated shortfall requirement of Rs 38.92 billion for the fiscal year 2008-09.

The new rates for domestic consumers will stand at Rs 102.68 per MMBTU to Rs 407.31 per MMBTU, against the existing rates of Rs 78 per MMBTU to Rs 310.92 per MMBTU. Commercial consumers will be charged Rs 361.49 per MMBTU.

New gas prices for compressed natural gas (CNG) stations will be Rs 329.54 per MMBTU, Rs 428.89 per MMBTU for cement factories, and Rs 329.54 per MMBTU for captive power plants.

Separately, OGRA has allowed the SSGCL to make upwards adjustments of 28 percent (Rs 58.97 per MMBTU) on a provisional basis from July 1.

The utility�s shortfall is estimated to be Rs 22.63 billion for the upcoming fiscal year.

Gari.pk User 10267 asked on 16 Oct 2010 16:09:00 pm

1 Answer

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Huzaifa - on 16 Oct 2010 16:09:11 pm

^Yes, just a notch over 50 RS infact, unless the cng stations association decides to cut down their percentage of profit which by the way is astronomically high.