Ogra holds public hearing on massive gas price hikes

LAHORE – The Oil and Gas Regulatory Authority (Ogra) on Monday held a public hearing in Lahore on the suggested increase in gas tariffs – the third in the current fiscal year – after the Sui Northern requested for up to a whopping 147% hike.

With the next hearing scheduled for Wednesday (March 27) in Peshawar, the Sui Northern has requested an increase of Rs2,646.18 per mmbtu, setting a new average price of Rs 4446.89, after it argued that it has estimated a revenue shortfall of Rs189.18 billion.

If the request is approved, then the increase in gas price for the consumers in Punjab. Khyber Pakhtunkhwa and Islamabad will be applicable from July 1.

As the hearing concluded, the Ogra officials said it wasn’t necessary to hike the gas prices according to the Sui Northern demand and that a final decision would be taken after completing the process of public hearings as well as pondering upon the objections.

Earlier, the Lahore Chamber of Commerce and Industry (LCCI) as well as All Pakistan Textile Mills Association (APTMA) declared the plan as cruel move and decided that they will be strongly oppose the same at the hearing.