OGRA approves summary to increase gas prices

ISLAMABAD: The upcoming year would see a price hike in gas as Oil and Gas Development Authority (OGRA) approved an increase in the prices of gas for domestic and industrial consumers on Saturday.

According to OGRA officials, the request to increase the price of gas was received from Sui Northern Gas Company (SNGPL) and Sui Southern Gas Company (SSGC) and that the summary has been forwarded to the Petroleum Ministry for final approval.

The SSGC and the SNGPL had requested an increase of 6.14 percent and 9.87 percent to the current price level respectively, stated OGRA officials.

Following the approval from the Petroleum Ministry, the new prices of gas would raise by Rs 31.12 mmbtu and Rs 29 mmbtu within SNGPL and SSGC respectively.

The new raise in the prices would not also be faced by domestic consumers but it would also be piled upon the population through enhanced CNG and Industrial products prices.

According to sources, the new prices would be promulgated from 1st January 2013, if accepted by the Petroleum Ministry.