OGRA approves 32% hike in gas prices

ISLAMABAD (92 News) – The Oil and Gas Regulatory Authority (OGRA) approved 32 per cent increase in the prices of gas for the fiscal year 2019-2020. According to the officials of petroleum division, gas price for the Sui Northern Gas Company (SNGC) consumers has been increased by Rs237 per MMBTU, While, gas price for the Sui Southern Gas Company (SSGC) has been increased by Rs160 per MMBTU. It said that OGRA has approved 4 to 32 per cent hike in tariff of gas for house consumers. He said a final decision regarding increase in gas prices would be made after approval from the federal government. He said public hearings were held on requests by the gas supplying companies in Karachi, Lahore, Peshawar and Quetta. The OGRA has proposed hike in gas prices from July 1. The gas prices will be applied following a notification of the government. The spokesperson for the OGRA said the increment in gas prices has been made for financial year 2019-20. In its summary, OGRA has suggested Rs4.89 per litre increase in diesel prices, Rs7.46 per litre in kerosene oil and Rs6.40 per litre hike in Light diesel prices. On the recommendations, the final decision would be made by the Finance Ministry with the consultation of Prime Minister Imran Khan. Meanwhile, the Oil and Gas Regulatory Authority suggested an increase of Rs1 in the price of light diesel. The finance ministry will take a decision on the summary after approval from Prime Minister Imran Khan today (on Thursday). The new price will be implemented from February 1, 2019.