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Pakistan likely to increase natural gas tariff by more than 137 percent

09:01 PM | 5 Dec, 2023
Pakistan likely to increase natural gas tariff by more than 137 percent
Source: File Photo

ISLAMABAD – The Sui Northern Gas Pipelines Limited (SNGPL) has filed a petition in the Oil and Gas Regulatory Authority seeking a whooping increase of 137.62 percent in natural gas tariff. 

SNGPL has sought Rs1,715 per mmbtu increase in gas tariff with applicable from July 1, 2023. It has made the request to cover expected revenue shortfall for the financial year of 2023-24.

As the revenue shortfall is estimated at Rs181.516 billion for the financial year 2023-24, it has asked Ogra to increase the tariff to Rs2,961.98 per mmbtu. The existing rate stand at Rs1,246.49 per mmbtu. 

The gas supply company has sought an increase of Rs1,246.49 in wake of arrears and Rs56.48 per mmbtu in wake of rupee devaluation. 

The regulatory authority will hear the petition on December 11.

Earlier in the day, the National Electric Power Regulatory Authority (Nepra) on Tuesday approved Rs3.07 per unit increase in power tariff on account of fuel price adjustment.

The authority has made the adjustment for the month of October 2023. The revised prices will be applicable to all consumers except K-Electric and lifeline users. 

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 20 Feb 2024

Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.

On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.

UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.

Today’s currency exchange rates in Pakistan - 20 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 207
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08

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