After petrol, gas prices also go up by 45%

By Muhammad JuniadPublished On 05 Jan 2023

• A notification regarding increase in gas prices has also been issued.  
• 45pc increase in gas prices has been approved for Sui Southern consumers. 
• For Sui Northern consumers, 44pc increase has been approved.

In a bit to hit a deal with the International Monetary Fund (IMF), the Oil and Gas Regulatory Authority (OGRA) Friday approved an increase in gas prices just a day after a massive increase in prices of petrol by Rs30 second time in a week.

A notification in this regard has also been issued which said that 45% increase has been approved for the Sui Southern Gas Company (SSGC) and 44% for the Sui Northern Gas Pipelines Limited (SNGPL). The new prices will be effective from July 1.

According to the notification, after approving an increase of Rs266 per MMBTU the price of gas has now been fixed at Rs854.52 per MMBTU for the Sui Northern consumers.

“While for Sui Northern consumers, the price of gas has been fixed at Rs1007 per MMBTU after an increase of Rs308.53 per MMBTU,” it added.

Govt increases petrol price to Rs209.86 per litre

The government is removing subsidies on commodities to reach a staff-level agreement with the IMF as part of efforts to strengthen the fragile economy of the country, 

In this connection, a day earlier the price of petrol has been moved up by Rs30 to Rs209.86, just a few days after the government hiked the POL prices by the same amount.

Ismail, in a press conference, said Prime Minister Shehbaz Sharif has approved hiking the price of petrol, diesel, and light diesel by Rs30 per litre, while the kerosene oil price went up by Rs26.38 per litre, effective from June 3.

NEPRA raises basic electricity tariff by Rs7.9 per unit

In addition, the National Electric Power Regulatory Authority (NEPRA) also raised the basic power tariff by Rs7.9078/kWh for the next fiscal year 2022-23 increasing the burden of inflation on the people of Pakistan.

The decision has been taken in line with the IMF’s demands and the power distribution companies’ requests. Currently, the basic power tariff is Rs16.91 per unit and with an increase of Rs7.9078 per unit, it will be more than Rs24 per unit.