ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has increased Rs86.93/mmbtu in prescribed gas prices for Sui Northern Gas Private Limited (SNGPL) and Rs54.47/mmbtu to Sui Southern Gas Company (SSGC) with effect from July 1, 2021 to meet revenue requirements, as they are expecting hundreds of billions of rupees revenue shortfalls.
The SNGPL average prescribed prices of gas to Punjab and Khyber Pakhtunkhwa would be now Rs686.77/mmbtu. Sui Southern Gas Company Ltd (SSGCL) that is feeding Sindh and Balochistan, the average prescribed gas price would be Rs779.88/mmbtu.
The SNGPL has been allowed 14 percent increase against their demand of 154 percent increase. Whereas, SSGCL has been allowed 7 percent increase in average prescribed gas price while it had asked for 8 percent increase. Interestingly, the SNGPL had also requested for inclusion of the previous years’ shortfall of Rs254.108 billion translating into Rs669.75/mmbtu in the final price determination. Based on these shortfalls, the Northern Company has asked for increase of 154 per cent increase in average prescribed prices. However, Ogra has referred this previous years’ shortfall determination to the federal government for appropriate policy decision and is not been made part of instant determination.
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