The Sui Southern Gas Company (SSGC) has submitted a request to the Oil and Gas Regulatory Authority (OGRA) for a gas tariff hike, set to take effect from July 1, 2024. According to the proposal, SSGC is seeking an increase of Rs324 per million British thermal units (mmbtu), aiming to establish a new average price of Rs1740.80 per mmbtu.
OGRA is scheduled to hold hearings on SSGC’s petition, with sessions planned for today in Karachi and March 20 in Quetta. This move follows several previous increases in gas prices during the current fiscal year. It is worth noting that Pakistan’s economic team, currently engaged in negotiations with the International Monetary Fund (IMF) team for the second review under the SBA to secure the release of $1.1 billion, has reportedly assured the international lender of further raising gas and electricity prices.
