ISLAMABAD – Pakistan’s soaring inflation continues to affect citizens and now Oil and Gas Regularly Authority increased gas tariff to meet the shortfall.
As people are paying record prices for basic commodities including sui gas, the outgoing government increased prices from January 1 till June 30 – the second price hike in current FY.
Ahead of upcoming polls, a lot of promises have been made by political leaders but the outgoing government increased the tariff of Sui Northern Gas Pipelines Limited (SNGPL) by 35.13pc and Sui Southern Gas Company Limited (SSGCL) by 8.57pc.
With latest hike, the gas price has been increased to Rs1,590 per MMBTU from the average price of Rs1,291 per MMBTU, reports said.
The new stern measure comes on the advisory of International Monetary Fund (IMF) to reduce the circular debt which currently stands at Rs1,250 billion.
Last year, Ogra jacked up gas prices for consumers of Sui Northern Gas, pushing the gas price up to Rs1,238.68 per MMBTU, and 45pc up for the consumers of Sui Southern Gas.
The incumbent authorities increased gas prices over 193pc, with an estimated revenue tariff of Rs980 billion in current fiscal year.