With a 47 per cent increase in average prescribed gas price, the Oil and Gas Regulatory Authority (Ogra) on Friday requested the government to jack up rates for domestic consumers by up to 205pc with effect from July 1 to keep the gas companies afloat.
In two separate determinations forwarded to the government, Ogra allowed about 47pc or Rs237 per unit (million British thermal unit) increase in the prescribed price of Sui Northern Gas Pipelines Limited (SNGPL) to Rs738 from Rs501. It said the company’s unaccounted for gas (UFG) losses stood at about 11pc.
Likewise, the regulator allowed 28pc or Rs160 per unit increase in the prescribed price of Sui Southern Gas Company Limited (SSGCL) to Rs738 from Rs578. SSGCL’s UFG losses stood at a whopping 16pc, Ogra said.
