Gas prices to increase by 50% from next week

The Ministry of Energy has decided to transfer the losses in the gas sector to the public.

In the coming week, the price of gas will increase by more than 50%. According to an agreement with the IMF, the gas price hike will be implemented from July 1.

The tariff of the Sui Northern Gas Pipelines Limited (SNGPL) will increase by Rs415 per MMBTU, while that of the Sui Southern Gas Company Limited (SSGC) will see an increase of Rs417 per MMBTU.

The Oil & Gas Regulatory Authority (OGRA) has already accorded approval to the price hike, and now the final decision has to be taken by the federal government