Gas price jacked up by 45pc

The Oil and Gas Regulatory Authority (OGRA) has approved a hike in gas prices for Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) consumers by up to 45 per cent, media reports said on Friday.

After jacking up the prices of electricity and petroleum products, the federal government has decided to increase the gas price. The authority okayed jacking up the gas rate for SNGPL consumers by up to 45 per cent and 44 per cent for SSGC consumers. The gas price for SNGPL has been increased by up to Rs266.58 per mmBtu, fixing the per mmBtu rate at Rs854.52. The new price per mmBtu gas for SSGC consumers was fixed at Rs1,007 with an increase of Rs308.53. The new gas prices will come into effect from July 1, following a notification to be issued by the federal government.

Meanwhile, after the power shortfall, the gas crisis also worsened in Punjab as gas supply to the textile mills was suspended. Several textile mills in Punjab were shut down due to continuous loadshedding and suspension of gas supply. Sources said that the shortage of gas was caused for the delay in the inclusion of LNG in the system. It was learnt that the LNG shipment was not docked at Karachi port which led to the shortage of gas in the system.

The spokesperson said that the gas supply was suspended to the textile mills that are using the resources of the Kapco power plant, whereas the shortage will be ended after the docking of the LNG shipment. On Thursday, the National Electric Power Regulatory Authority (NEPRA) approved a Rs7.91 increase per unit of electricity. According to a notification issued by NEPRA, the government has increased the basic tariff per unit of electricity by Rs7.91. The per-unit price has been increased from Rs16.91 to Rs24.82, which is a 47% hike in prices.