The Oil and Gas Regulatory Authority (Ogra) proposed 4 per cent to 10 per cent reduction in gas prices, 24NewsHD TV Channel reported on Tuesday.
The spokesperson of OGRA issued an official statement on proposed new gas prices and announced announced a reduction in gas prices for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL).
The OGRA spokespers said the gas price for SNGPL has been reduced by 10%, bringing the average proposed price to Rs 1635.90 per Metric Million British Thermal Unit (mmbtu), a decrease of Rs 179.17 per mmbtu.
For SSGCL, the OGRA spokesperson said the gas price has been reduced by 4%, with the average proposed price now set at Rs 1401.25 per mmbtu, a reduction of Rs 59.23 per mmbtu.
The spokesperson also outlined the estimated revenue requirements for both the companies [SNGPL and SSGCL] for the financial year 2024-25.
The OGRA spokesperson said the decision regarding these gas price adjustments has been sent to the federal government for final approval.
Reporter: Awais Kiyani