SSGC, SNGPL push for increase in gas prices

KARACHI: The Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) are seeking an increase of up to Rs194.01 per unit in gas tariffs, effective from July 1, 2019.

invest with imarat

Islamabad’s emerging city centre

Learn More

The public gas utilities aim to collect additional revenue of Rs93.69 billion from the endconsumers in the current fiscal year, which started on July 1, 2019.

If approved, the proposed hike in gas prices will trigger a new wave of inflation rather than a decline in the Consumer Price Index (CPI) as projected by the government.

Earlier, the State Bank of Pakistan (SBP) and high-ranking government officials anticipated a softening of inflation in the second half (Jan-Jun 2020) of the current fiscal year and a notable drop in the next fiscal year.

This will be the second gas price revision since the beginning of the current fiscal year.

The development came after the International Monetary Fund (IMF) cut its inflation forecast for Pakistan to 11.8% on Friday from the 13% anticipated in May 2019 for the current fiscal year.

For more news and blogs, visit Graana.com.

Maham Tahir

Recent Posts

A Guide to Quetta Town in Karachi

Quetta Town is a residential neighbourhood located in the vibrant city of Karachi, Pakistan. Known…

13 hours ago

Akbar Chowk Lahore: A Focal Point of Connectivity

Akbar Chowk in Lahore stands as one of the city’s most critical intersections, serving as…

1 day ago

A Guide to Khuda Baksh Colony Lahore

Khuda Baksh Colony, located near Bhatta Chowk in Lahore, is a rapidly developing residential area…

2 days ago

Gol Market Karachi: A Vibrant Commercial Hub

Gol Market in Karachi is one of the city's most iconic and bustling commercial centres.…

2 weeks ago

Model Town Gujranwala: A Well Planned Residential Area

Model Town, located in the heart of Gujranwala, is one of the city’s most prestigious…

2 weeks ago

Senate Greenlights Special Courts for Swift Resolution of Overseas Pakistanis’ Property Cases

ISLAMABAD, Pakistan— In a major move to address the longstanding grievances of overseas Pakistanis, the…

2 weeks ago