Gas consumers likely to bear the burden of companies revenue shortfall

The gas consumers are likely to bear another hike in prices of gas as Sui Northern and Southern companies have sent the summary to the Oil and Gas Regulatory Authority (Ogra).

SSGC recommended Rs79 per unit increase and SNGPL Rs773 per unit from July 1.  Ogra will take up the matter on November 26 

According to SSGC, it ran short of Rs28 billion revenue so it made a request for letting it increase the price from Rs743.25 per MMBTU to Rs822.25 per MMBTU.

The SNGPL made an appeal for surging the gas price from Rs631 per MMBTU to Rs1,404.91  per MMBTU to overcome its Rs35 billion revenue shortfall, the regulatory authority said.

Last month, Ogra let an increase in gas prices for industries resulting up to Rs88 per MMBTU increase in CNG sector. For Punjab and Khyber Pakthunkhwa, the hike in price in Rs88, meanwhile, Rs67 is for Sindh and Balochistan, the authority notified.

For general industries, the price of gas was increased by Rs33 per MMBTU and Rs66 per MMBTU for the export sector.  Ogra raised gas by Rs2 for fertilizer sector while power stations would be paying Rs33 and IPPs Rs33 per MMBTU.