Islamabad: The Oil and Gas Regulatory Authority (OGRA) on Tuesday proposed to reduce gas prices by 4-10 percent.
The OGRA spokesperson issued an official statement on the proposed new gas prices and informed that the gas prices have been reduced for Sui Northern Gas Turbage Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL).
An OGRA spokesperson said the gas price for SNGPL has been reduced by 10 percent and the average bid price has dropped by $179.17 per mmbtu to $1,635.90 per million metric thermal units (mmbtu).
For SSGCL, the OGRA spokesperson said that the gas price has been reduced by 4 percent, with the proposed average price reduced by $1,401.25 per mmbtu and $59.23 per mmbtu.
The spokesperson also revealed the estimated revenue requirements for the two companies [SNGPL and SSGCL] for the financial year 2024-25.
An OGRA spokesperson said the decision to change gas prices has been sent to the federal government for final approval.
