Gas prices rise
After petrol and electricity, the country is also preparing to increase gas prices. At the request of the IMF, gas prices are expecte to increase by 50% from July 1. The government is preparing to increase gas prices in the country after petrol and electricity. At the request of the IMF, gas prices are expecte to increase by 50% from July 1. Gas prices are expecte to rise by 40 to 50 percent from July 1, The News quoted a senior Energy Ministry official as saying.
The IMF wants. That in the next financial year 2022-23, gas utilities will not be further harme and in an effort to revive the ایف 6 billion IMF program, this time the government has no option but to increase the system gas tariff by 40 to 50 percent. Is. Is not. Save it.
The official said that the increase in gas tariff will be effective from July 1, 2022. So far, Sui Southern and Sui Northern are facing huge losses of Rs 550 billion accumulated in previous years.
Sui Northern is facing a loss of Rs 350 billion and Sui Southern is facing a loss of Rs 200 billion mainly due to non-increase in tariff. From now on, OGRA’s amended law will implement gas tariffs as per IMF guidelines.
It is learne that the IMF has asked the government. To ensure that in the forthcoming budget, both the gas companies are not further affected by the stagnation in tariffs and that the amended law of OGRA is properly implemented. The official clarified that under the amended OGRA Act, whenever the Oil and Gas Regulatory Authority determines the revenue requirement for both the companies, it will announce the gas tariff accordingly.
If any part does not respond to the default tariff, it will automatically take effect after 40 days. We have been told. That 40% increase in tariff could go from 10% increase to 50%, 10% increase will be use.
According to the report, Sui Northern has already demanded a 66% increase in gas tariffs for the fiscal year 2022-23 and Sui Southern has demanded a 46% increase in gas tariffs. Following the response of both the gas companies, OGRA may decide to increase the tariff by mid-June 2022.