ISLAMABAD: Prime Minister Imran Khan has approved up to 46 percent hike in gas prices proposed by the Oil and gas Regulatory Authority (OGRA).
In a briefing the prime minister was informed that there is no other way except the price increase to bridge the revenue gap of the Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company (SSGC).
After the prime minister’s approval, the summary for the gas prices increase will be presented to the next meeting of the Economic Coordination Committee (ECC) of the cabinet.
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OGRA has forwarded two separate determinations regarding the prescribed prices of two troubled gas utilities, SSGC and SNGPL to the government.
The increase in prescribed prices is based on estimated revenue requirements of the two utilities for the fiscal year 2018-19 and is worked out keeping in mind various projects under implementation and other expenditures.