Friday, May 24, 2024

SSGC Seeks OGRA Approval for Gas Price Hike

Sui Southern Gas Company (SSGC) Limited has formally approached the Oil and Gas Regulatory Authority (OGRA) to endorse an escalation in gas tariffs for consumers in Sindh and Balochistan.

According to sources, SSGC has lodged a formal request with OGRA, urging for a further increase of Rs274.40 per MMBTU, effective retrospectively from July 1, 2024. The company's objective is to establish a new average gas rate at Rs1740.80, contrasting with the current average of Rs1696.39 per MMBTU.

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The application underscores SSGC’s revenue deficit, amounting to a staggering Rs79.63 billion. Specifically, the shortfall for local gas is estimated at Rs56.69 billion, while the remaining deficit is attributed to RLNG, totaling PKR 22.935 billion.

A revenue shortfall indicates a scenario where actual or projected earnings fall short of anticipated targets. Such discrepancies can significantly impact financial stability, budget allocations, and investment strategies within the organization.

OGRA is scheduled to convene a hearing on the application in Karachi on Monday, with another session slated for March 20 in Quetta.

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Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

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