ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) determined the revenue requirements of Sui companies for fiscal year 2024-25. The average prescribed price per MMBTU of gas is recommended at Rs 1635.90 and the decrease in price per MMBTU is Rs 179.17 with decrease percentage of 10% for SNGPL.

The financial impact of previous years’ shortfall of Rs 580,585 million, as calculated by OGRA as against SNGPL’s claim of Rs 862,612 million per the petition, has been referred to Federal Government for an appropriate policy decision and is, therefore, not made part of instant determination.

The Average prescribed price for SSGC is determined as Rs.1401.25 with decrease in price per MMBTU is Rs.59.23 and the decrease percentage is 4%.

The Federal Government has been requested for advice on category-wise sale prices. Any revision, as advised by Federal Government, shall be accordingly notified by OGRA. Till such time the existing category-wise natural gas sale prices shall continue to prevail.

The government has pledged to IMF that it would revise gas tariff with effect from June 2024 to curtail circular debt of gas sector which was Rs 2.080 trillion on January 2024.

The details of OGRA’s decision regarding revenue requirements of gas utilities are available at Ogra website.

Copyright Business Recorder, 2024