Pakistan’s Oil and Gas Regulatory Authority (OGRA) has enforced a significant 35.13% increase in gas tariffs, exacerbating the financial strain on consumers already grappling with hefty and unmanageable bills.
The latest hike, the second in the current fiscal year 2023-24, sees a substantial rise in gas tariffs for both Sui Northern and Sui Southern, with Sui Northern witnessing a surge of 35.13% and Sui Southern experiencing an 8.57% increase.
Read also: Pakistan Mulls 41% Gas Price Increase
Under the revised rates, the per MMBTU rate for Sui Northern now stands at Rs1673.82, reflecting a staggering increase of Rs435.14, while Sui Southern’s rate reaches Rs1466.40, up by Rs115.72.
The recommendations for these tariff adjustments have been submitted to the caretaker federal government, awaiting approval before OGRA can officially implement the new rates.
IMF pressure intensified as the organization reportedly demanded Pakistan to raise gas prices by up to 41% by mid-February, refusing to extend subsidies on power tariffs except for those already allocated in the budget.