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Pakistan may see 50 percent rise in natural gas prices from next month: Reports Pakistan Natural Gas
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Pakistan may see 50 percent rise in natural gas prices from next month: Reports

India Blooms News Service | @indiablooms | 04 Jun 2023, 08:51 pm

Pakistani consumers can expect to see some troubled times next month as natural gas prices might increase by 50 percent.

On Friday, the Oil and Gas Regulatory Authority (Ogra) concluded its determinations for two struggling state-run gas utilities and submitted them to the government for issuance of a notification. For the upcoming fiscal year 2023-24, Ogra has calculated an estimated revenue requirement (ERR) of Rs697.4 billion to be collected from gas consumers. The Sui Northern Gas Pipeline Limited (SNGPL), responsible for gas supply to consumers in Punjab and Khyber-Pakhtunkhwa (KP), will collect Rs358.4 billion, reports The News International.

Meanwhile, the Sui Southern Gas Company (SSGC), which supplies gas to consumers in Sindh and Balochistan, will collect Rs339 billion, the newspaper reported.

The average prescribed price determined by Ogra for SNGPL stands at Rs1238.68/MMBTU, reflecting a 50 percent increase or Rs415.11 compared to the existing price.

Similarly, the average prescribed price for SSGC is set at Rs1350.68/MMBTU, representing a Rs 417.23 increase or 45 percent.