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SSGCL Proposes Significant Increase in Prescribed Gas Prices from July 1

SSGCL Proposes Significant Increase in Prescribed Gas Prices from July 1:

The Sui Southern Gas Company Ltd (SSGCL) is seeking to increase its prescribed prices by Rs392 per million British thermal units (mmBtu) from July 1 to address its revenue shortfall of about Rs98bn for 2023-24, following a recent hefty increase in natural gas prices for consumers.

The Oil and Gas Regulatory Authority (Ogra) announced on Thursday that it had accepted the petition for a public hearing.

SSGCL estimates its total revenue requirement for the next fiscal year at Rs266bn.

However, its sales revenue under the existing prescribed price would only generate Rs168bn, creating a gap of Rs98bn.

To bridge this gap, SSGCL needs to increase the prescribed price by Rs392 per unit.

Read More: Govt Reduces Price Of Petrol By Rs. 5 Per Litre

Additionally, the company claims another revenue shortfall of about Rs15bn due to losses in the supply of Regasified Liquefied Natural Gas (RLNG) during the next fiscal year, and it is demanding an increase of Rs32.62 per unit in additional prescribed prices to meet the requirements of RLNG supplies.

The government has already increased consumer gas prices by up to 124% to address the revenue shortfall of two gas companies during the current fiscal year.

The prescribed prices approved by Ogra require the government to pass on the impact to various consumer categories while considering sociopolitical priorities.

The law requires consumer-end gas prices to be revised twice a year.

Also Read: First Russian Wheat Ship Arrives At Gwadar Port

Pavan Manzoor
Written By

Pavan Manzoor is an experienced content writer , editor and social media handler along with a track record of youth-oriented activities in Pakistan and abroad. She was selected as a fully-funded delegate as a leadership fellow in Turkey. She also led a team of 5 volunteers at the week-long Young Professionals Fellowship in Maldives. She is also a member of the Youth Standing Committee on Higher Education.

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