The Oil and Gas Regulatory Authority (Ogra) has dismissed a powerful increment in gas costs and rather discounted the cost up to 6 percent for shoppers.
As indicated by a warning gave by the controller on Tuesday, gas costs for the purchasers of gas service organizations – Sui Northern Gas Pipeline Company Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) – have been decreased by 6 percent and SSGCL 2 percent separately.
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“The Oil and Gas Regulatory Authority (Ogra), under Section 8(1) of OGRA Ordinance, 2002, vide its choice dated July 13, 2020 and July 14, 2020, has decided the income necessity of gas organizations i.e., Sui Northern Gas Pipeline Company Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) for FY 2020-21 individually and has sent the equivalent to the government for gas deal value exhortation in regard of every class of buyers under Section 8(3) of said Ordinance,” the notice read .
The SNGPL had requested to expand gas cost to Rs1,287.19 per mmbtu against existing cost of 664.25 per mmbtu. Nonetheless, the controller chose to diminish cost to Rs623.31 per mmbtu which is 106.5% not as much as request and 6% not exactly existing cost.
The SSGC had requested to raise cost to Rs881.53 per mmbtu against existing cost of Rs796.18 per mmbtu. Be that as it may, Ogra scaled down cost to 750.90 per mmbtu which is 17.4% not as much as request and 2% not exactly existing cost. The controller has altogether cut the gas costs against the organizations’ interest for the expansion in gas costs for FY2020-21. The principle purpose behind decrease in cost is worldwide oil costs alongside different forbiddances made by Ogra in regard of income and capital uses.
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