Ogra proposes up to 26pc hike in gas prices

The Oil & Gas Regulatory Authority (Ogra) has asked the federal government to increase gas rates by up to 26pc to generate about Rs847.33bn during the current fiscal year. In its two separate determinations forwarded to the federal government on Tuesday, the regulator said it worked out an increase of Rs142.45 per million British thermal units or MMBTU in the average price for Sui Northern Gas Pipelines Limited (SNGPL) consumers in Punjab, Khyber Pakhtunkhwa and other northern areas. The proposed hike for Sui Southern Gas Company Limited (SSGCL) consumers in Sindh and Balochistan was Rs361 per unit. The regulator advised that each SNGPL consumer be charged a flat rate of Rs1,778.35 per unit (instead of Rs1,635.90 per unit) and that of SSGCL Rs1,762.51 per unit (from Rs1,401.25 per unit at present) from February 1.