This development comes as the new fiscal year commences.
ISLAMABAD: (UrduPoint/Pakistan Point News-June 3rd, 2023) Pakistan is expected to witness a significant surge of 50% in natural gas prices starting in July, the sources said on Saturday.
This development comes as the new fiscal year commences.
On Friday, the Oil and Gas Regulatory Authority (Ogra) finalized its evaluations for two struggling state-owned gas utilities. The authority has now submitted its findings to the government for the issuance of a formal notification.
For the fiscal year 2023-24, Ogra has determined that gas consumers need to contribute an estimated revenue of Rs697.4 billion.
The Sui Northern Gas Pipeline Limited (SNGPL), responsible for supplying gas to consumers in Punjab and Khyber-Pakhtunkhwa (KP), will be tasked with collecting Rs358.4 billion.
On the other hand, the Sui Southern Gas Company (SSGC), which provides gas to consumers in Sindh and Balochistan, is set to collect Rs339 billion.
According to Ogra's calculations, the average prescribed price for SNGPL is Rs1,238.68/mmBtu. This figure represents a noteworthy increase of 50% or Rs415.11 compared to the current price.
