Adding to the burden of inflation-stricken individuals, the Oil and Gas Regulatory Authority (OGRA) has given its approval for a substantial increase of up to 50 percent in Sui gas prices, effective from July 1.
Reports in the media indicate that Sui Northern Gas Pipelines Ltd (SNGPL) will be allowed to raise gas prices by up to 50 percent, while the Sui Southern Gas Company (SSGC) can increase prices by 45 percent.
Under the latest recommendation, the average gas price for SNGPL has been set at Rs 415 per mmbtu, while the SSGC will have a price of Rs 417.23 per mmbtu.
The final decision on this matter will be made by the federal government, and if approved, the new average Sui gas prices will be Rs 1238.68 per mmbtu for SNGPL and Rs 1350 per mmbtu for SSGC, as per reports.
This recent decision by OGRA comes as a double blow to distressed Pakistanis who are already grappling with soaring food and fuel prices. In May 2023, inflation reached an alarming rate of 38 percent on a year-on-year basis, as revealed by the Pakistan Bureau of Statistics.