ISLAMABAD: The Sui Southern Gas Company (SSGC) has moved the Oil and Gas Regulatory Authority (OGRA) for another gas tariff hike, effective from July 1, 2024.
According to a report on Monday, SSGC has urged the OGRA to jack up gas prices by Rs324 per million British thermal units (mmbtu), aiming to set a new average price of Rs1740.80 per mmbtu.
Ogra is scheduled to conduct hearings on SSGC’s petition, with sessions slated for today in Karachi and March 20 in Quetta. This follows a series of previous increases in gas prices throughout the current fiscal year.
It is to be noted that Pakistan’s economic team negotiating with the International Monetary Fund (IMF) team on the second review under SBA for the release of $1.1 bln, ‘assured’ the international lender of further jacking up the gas and electricity prices.
Earlier, the Sui Southern Gas Company (SSGC) said that Pakistan’s gas reserves are likely to be reduced by half by 2027.
The Sui Southern Gas Company (SSGC) said the consumption of the gas is increasing and the reserves of the natural gas are diminishing rapidly. The company underlined the need to shift to RLNG from the local gas.