ISLAMABAD (92 News) – The Oil and Gas Regulatory Authority (OGRA) decided on Sunday to increase gas price by 36 percent from November 15.
The authorities have written a letter to Prime Minister Nawaz Sharif, Finance Ministry, Ministry of Petroleum asking them to provide subsidy to the people if the government does not want to raise the price.
The OGRA authorities said that they decided to increase gas price by 36 percent from November 15 and to meet the financial needs of companies increase in gas tariff is legal, adding that the authority will issue the notice of tariff hike if no advice from the government is received till November 15.
The officials further said that they had moved a summary in October, seeking approval for increase in gas prices and now they cannot stop the hike in tariff on the verbal orders of the government.
If approved, the average prescribed gas price for the Sui Northern Gas Pipeline Limited (SNGPL) will go up by Rs 57.89 per Million British Thermal Unit (mmbtu), while rates for SSGC will go down by Rs 65.12 per mmbtu.
The average rate for SNGPL consumers will be hiked from Rs422.74 to Rs480.63 per mmbtu, while for SSGC consumers, the price will be reduced from Rs419.36 to Rs354.24 per mmbtu.