• About
  • Advertise
  • Contact
Tuesday, July 5, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Business

Gas firms pursue a 220 percent climb in prices

bySidra Butt
March 22, 2021
in Business, Finance, Main, New
Reading Time: 2 mins read
0
Gas firms seek up to 220 percent hike in prices
50
SHARES
775
VIEWS
Share on FacebookShare on Twitter

The country’s two main gas utilities- SNGPL and SSGCL have demanded up to 220 percent inflation in the prescribed prices of gas with the effect from July 1st to meet estimated revenues requirement ERR during the fiscal year of 2021 to 2022.

In formal petitions filed with the Oil and Gas Regulatory Authority (Ogra), the Lahore-based Sui Northern Gas Pipelines Limited has demanded that its prescribed price for the next fiscal year be increased by Rs1,416 per unit defined in million British thermal units (MMBtu), including the previous year’s outstanding recovery of about Rs670 per unit.

RelatedPosts

Govt asked to shun cars over 1000cc

ML-1 cost increases to $9.8 billion

PKR depreciates by Rs2.38 in interbank

According to an announcement by the regulator, SNGPL has demanded an additional revenue requirement of Rs367bn, including last year’s revenue shortfall of Rs254bn. For next year’s revenue shortfall, the company has sought an increase of Rs857 per unit in its prescribed price to meet next fiscal’s revenue shortfall of Rs71bn. The company has demanded another Rs137.5 per unit increase as cost of service for re-gasified liquefied natural gas (RLNG).

The existing prescribed price approved by Ogra for SNGPL, which supplies gas to Punjab and Khyber Pakhtunkhwa, stands at about Rs645 per MMBtu. Its demand if approved by the regulator would jack up prescribed prices by about 220pc to almost Rs2,160. Interestingly, the exclusive rights of SNGPL over its franchise areas of Punjab and KP have expired, but the company has projected Rs42bn for laying 11,500-kilometre distribution mainlines to connect various new towns and villages.

Regulators moves to get stakeholders ‘input on demand; it’s not immediately clear whether the rise will hit consumers.

Likewise, the Karachi-based Sui Southern Gas Company Limited has sought Rs153 per unit or 20pc increase in its prescribed price for the next fiscal year, from about Rs779 per unit to about Rs932.

Tags: BritishKarachiLahoreOGRASui Gas
Sidra Butt

Sidra Butt

Related Posts

Govt asked to shun cars over 1000cc

Govt asked to shun cars over 1000cc

As the country faces serious economic and energy crises, traders have called upon the government to ban the import and...

ML-1 cost soars to $9.8b

ML-1 cost increases to $9.8 billion

On Monday, the Senate Standing Committee on Railways was informed that the cost of upgrading Karachi to Peshawar Main Line-1...

Next Post
Pakistan stocks exchange

The four powerhouses of Pakistan Stocks Exchange

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

British High Commissioner Christian Turner meets Imran Khan

British High Commissioner Christian Turner meets Imran Khan

Govt asked to shun cars over 1000cc

Govt asked to shun cars over 1000cc

ML-1 cost soars to $9.8b

ML-1 cost increases to $9.8 billion

PKR depreciates by Rs2.38 in interbank

PKR depreciates by Rs2.38 in interbank

Pakistan’s microfinance institution launches term finance certificates of $4.9 million

Pakistan’s microfinance institution launches term finance certificates of $4.9 million

Indian Airline plane makes ‘emergency landing’ in Karachi

Indian Airline plane makes ‘emergency landing’ in Karachi

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In