In response to a directive from the International Monetary Fund (IMF), the Oil and Gas Regulatory Authority (OGRA) has raised gas tariffs, burdening consumers with an additional 35.13% increase.
This move, the second in the current fiscal year 2023-24, comes as the public already grapples with soaring and unaffordable gas bills.
Specifically, OGRA has increased the gas tariff for Sui Northern by 35.13% and for Sui Southern by 8.57%, amplifying financial challenges for households.
Breaking down the figures, the rate per MMBTU for Sui Northern now stands at Rs1673.82, reflecting a substantial increase of Rs435.14. Similarly, for Sui Southern, the rate per MMBTU rises to Rs1466.40, marking a hike of Rs115.72. These recommendations await consideration by the caretaker federal government.
The directive from the IMF urged Pakistan to raise gas prices by mid-February, potentially reaching an increase of 41%. Notably, the IMF has declined to offer subsidies on power tariffs beyond those outlined in the budget.
Pending approval from the government, OGRA is expected to formally announce the new gas tariff rates, intensifying concerns for the public amidst economic challenges. As consumers brace for the impact, the rising cost of gas remains a pressing issue in their daily lives.