The Oil and Gas Regulatory Authority (OGRA) has approved a notable increase in gas prices for the current fiscal year, in line with a requirement set by the International Monetary Fund (IMF).
The approved price hikes include an 8.71% increase for Sui Northern Gas Pipelines Limited (SNGPL) and a 25.78% rise for Sui Southern Gas Company Limited (SSGCL).
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Following these adjustments, the average gas price for SNGPL will rise to Rs1,778.35 per MMBTU, while SSGCL’s average price will increase to Rs1,762.51 per MMBTU.
This decision has been sent to the federal government for final approval. OGRA noted that the implementation of the revised prices will depend on the federal government’s advice, with the price hike expected to take effect from January 1, 2025.
The IMF had specifically requested this gas price increase as part of the conditions for Pakistan to meet the terms of its loan program.
