The Sui Northern Gas Pipelines Limited (SNGPL) For the third time in a year has proposed a significant increase in gas prices. A hearing regarding the increase in gas prices is scheduled to take place in Lahore on March 25th. According to sources, the SNGPL has recommended a price of 4489 rupees per MMBTU. Reports suggest that this increase in gas prices could result in an average hike of up to 155 percent for consumers. Despite a previous increase of up to 500 percent over the past year, the company has been unable to reduce its losses. During the hearing, domestic and industrial sectors are expected to present reasons against raising gas prices. It has been noted that in the past, stakeholder opinions have not been considered, and prices have been raised solely on the company’s recommendation. The hearing in Lahore is seen as a means to fulfill legal formalities. A decision to increase gas prices has already been made effective from July 1st, as per the IMF’s demands.
SNGPL proposes 3rd price hike in a year
Published on: March 25, 2024 8:50 AM