In compliance with the International Monetary Fund (IMF) demand, the Oil and Gas Regulatory Authority (OGRA) has further jacked up gas tariff by 35.13 per cent for the masses, who are already reeling under heavy and unaffordable bills, says in media reports. As per details, the Oil and Gas Regulatory Authority (OGRA) has increased the gas tariff of Sui Northern by 35.13 per cent and Sui Southern by 8.57 per cent. This is the second gas price hike in the current financial year 2023-24. The rate of per MMBTU for Sui Northern has been agreed to be fixed at Rs1673.82 after an increase of Rs435.14. For Sui Northern, the rate of MMBTU will be Rs1466.40 after an increase of Rs115.72. The recommendations have been forwarded to the caretaker federal government.

Furthermore, OGRA has sanctioned the transfer of the burden of a 10 percent super tax on company profits to consumers. Despite government directives to prevent the passing on of the levy to consumers, this move has been approved. In another development, Sui Northern has been granted permission to establish an office in Kirk, with an annual expenditure allocation of Rs 10 crore. The approval of these measures by OGRA marks significant changes in the gas tariff structure, placing an additional financial burden on consumers amid ongoing challenges faced by the gas companies.

Credit: Independent News Pakistan (INP)