Islamabad: The Oil and Gas Regulatory Authority (OGRA) is convening a public hearing in Lahore today to address a petition submitted by Sui Northern Gas Pipelines Limited (SNGPL), which seeks a significant increase of 147% in gas tariffs.
According to media reports, OGRA will consider the proposal for an increase in Sui Northern Gas prices on March 25th and decide after deliberating on the recommendation. If the request is approved, there is a possibility of an increase of up to an average of 147 percent in bills.
Sui Northern has requested for a substantial hike of Rs. 2,646 per MMBTU, aiming to establish a new average price of Rs4,446.89 per MMBTU. The proposed increase is projected to result in a revenue shortfall of over Rs189 billion, as estimated by the company. Following today’s hearing in Lahore, Ogra is slated to conduct another session in Peshawar on Wednesday, March 27, to further deliberate on the matter.
In a press release issued on Sunday, Ogra emphasized its commitment to facilitating public participation and ensuring transparency in the decision-making process. The authority invited stakeholders, consumers, and the general public to voice their concerns and grievances during the hearings. Ogra reiterated that a decision would be made subsequent to the completion of the public consultations.
After OGRA’s approval, the increase in gas prices will come into effect from July 1st.
The proposed tariff hikes have been met with resistance from the public, particularly from low-income and middle-class households already grappling with soaring inflation. Critics argue that further increases in gas prices would exacerbate financial burdens on vulnerable communities, fueling concerns about social inequality and economic hardship.
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