The Sui Northern Gas Pipelines Limited (SNGPL) on Tuesday filed a petition at the Oil and Gas Regulatory Authority (OGRA) for an exorbitant hike of 137.62% in gas prices.
The authority is set to conduct a hearing on the petition of the gas utility on December 11.
In its petition, the SNGPL pleaded for an increase of Rs 1,715 per mmbtu effective from July 1, 2023. The gas utility mentioned a projected shortfall of Rs 181.51 billion for the fiscal year 2023-24.
The company sought a gas price of Rs 2,961.98 per mmbtu, from the current rate of Rs 1,246.49 per mmbtu.
The application highlighted an increase of Rs 1,209.14 per mmbtu for liabilities and a further hike of Rs 56.48 per mmbtu on the back of rupee depreciation.