KARACHI: The Sui Southern Gas Company Limited (SSGC) has requested a rise in gas prices amounting to Rs226.18 per metric million British thermal units (mmBtu).

The Oil and Gas Regulatory Authority (OGRA) is scheduled to consider SSGC’s appeal for this additional increase in gas prices tomorrow. The company anticipates a revenue shortfall of Rs47,773 million in the ongoing fiscal year and has proposed a hike of Rs226.18 per mmBtu in average prescribed prices, effective from July 1, 2023.

Currently, the average sale price stands at Rs1,470.21 per MMBTU, and SSGC is advocating for the average prescribed price to be adjusted to Rs1,696.39 per MMBTU, reflecting a 15.38% increase.

In a previous development, the interim federal government implemented a significant gas price hike effective from November 1. The Petroleum Division issued a notification outlining the substantial price increases for various sectors, including domestic, export, non-export units, CNG, and cement. However, gas prices for protected consumers using 25 to 90 cubic meters in a month remained unchanged, although fixed charges for this consumer category were raised from Rs10 to Rs400. For non-protected domestic consumers, the notification indicated a hike of over 172% in gas prices.