Average gas prices hiked 35.15pc for Sui Northern and 8.57pc in the case of Sui Southern
Business
Move designed to meet an IMF demand
ISLAMABAD (Dunya News) – The Oil and Gas Regulatory Authority (Ogra) has another massive increase in gas prices for the consumers across Pakistan to meet one of the key conditions set by the International Monetary Fund (IMF), at a time when the people are already reeling from the devastating effects of record-high inflation.
Read more: IMF hails increase in Pakistan energy tariffs, says economy is on the right track
Although constantly reducing purchasing power means the masses in Pakistan practically don’t have any room left to adjust their expenses, the latest gas tariff hikes mean the consumers in Punjab, Khyber Pakhtunkhwa and Islamabad would on average pay up to 35.15 per cent more for one MMBtu.
The MMBtu stands for Metric Million British Thermal Unit used for calculating the amount for gas consumption.
But for the consumers in Sindh and Balochistan – the two provinces which produce most the natural gas – this increase in tariff is 8.57pc on average.
It means the new minimum tariff for Sui Northern – the company responsible for gas distribution in Punjab, Khyber Pakhtunkhwa and Islamabad – now stands at Rs1,673.82 per MMBtu. It stands at Rs1,466.40 in the case of Sui Southern – the entity supplying gas to consumers in Sindh and Balochistan.
Meanwhile, the Ogra has sent the proposal to the federal government and the necessary notification would be issued after its final approval.
