On Monday, the Oil and Gas Regulatory Authority (OGRA) granted approval for an increase in tariff for consumers of Sui Northern Gas and Sui Southern Gas, shortly after approving a significant hike in electricity prices. As per reports, the authority has agreed to a 50% hike for Sui Northern and 42% for Sui Southern, resulting in the per MMBtu rate increasing by Rs415.55 and Rs417, respectively.
Following the surge, the new prices for Sui Northern consumers would reach Rs1,238.68/MMBtu, while for Sui Southern consumers, it would be Rs1,350.68/MMBtu.
The matter has been sent to the federal government for the final decision, as the government led by Prime Minister Shehbaz Sharif is striving to meet the conditions set by the IMF following the $3 billion loan agreement.
If approved, the new tariff would come into effect from July 1 for all domestic, commercial, and industrial consumers.
In the previous week, the federal cabinet already approved a substantial increase in the electricity base tariff, raising it from Rs3.50 to Rs7.96 per unit.
