ISLAMABAD:
Sui Southern Fuel Corporate (SSGC) has sought a large build up of Rs667.44 in keeping with million British thermal gadgets (mmbtu) in fuel costs for monetary 12 months 2022-23.
The Oil and Fuel Regulatory Authority (Ogra) held a public listening to on Monday to hunt the enter of related stakeholders prior to attaining a last resolution.
In a commentary, Ogra stated “it carried out a public listening to in Karachi to hunt the perspective of shoppers, most people and stakeholders at the assessment petition filed by way of SSGC beneath Segment 8(2) of the Oil and Fuel Regulatory Authority Ordinance 2002 learn with Rule 4(3) of the Herbal Fuel Tariff Laws 2002 for the assessment of its estimated earnings requirement/ prescribed costs for FY 2022-23”.
Within the petition, SSGC has projected a shortfall of Rs184,881 million in its earnings requirement, together with Rs33,787 million because of unrecovered shortfall for FY 2021-22. Accordingly, the general public fuel application is looking for an build up of Rs667.44 in keeping with mmbtu in its moderate prescribed worth for FY23.
Excluding that, the petitioner has estimated re-gasified liquefied herbal fuel (RLNG) carrier price at Rs26.23 in keeping with unit for FY23.
Ogra carried out the listening to to provide a chance to all stakeholders and shoppers, together with the Karachi Chamber of Trade and Trade and the All Pakistan Textile Processing Generators Affiliation (APTPMA), to specific their considerations over the SSGC petition.
Ogra chairman presided over the lawsuits and reserved the verdict, which might be introduced inside of due process time.
SSGC filed the assessment petition bearing on adjustments within the wellhead fuel costs and estimates of fuel offtake.
Within the petition, SSGC took further quantities for flood rehabilitation and service paintings of Rs200 million and Rs350 million at the transmission and distribution community respectively.
SSGC stated that the Financial Replace and Outlook of September 2022, launched by way of the Finance Department’s Financial Advisory Wing, put the inflation measured by way of the Client Worth Index (CPI) at 26.1% for July-August FY23 in comparison to 8.4% in the similar duration of ultimate 12 months.
The estimate of the price of fuel has been revised making an allowance for the typical crude oil and prime sulphur gasoline oil (HSFO) costs of $99.96 in keeping with barrel and $505.44 in keeping with ton respectively. The change fee parity has been taken at a median of Rs231 in keeping with buck for the 12 months. Those assumptions have additionally been followed for purchases, gross sales and unaccounted for fuel (UFG).
Within the revised petition, exact fuel gross sales volumes for 2 months had been integrated into the revised estimates and decided figures for the rest 10 months had been saved.
As well as, the UFG quantity has been maintained on the stage of estimated earnings requirement of FY23.
This additionally contains prior 12 months’s shortfall restoration of Rs33,787 million, or Rs121.97 in keeping with mmbtu, (for herbal fuel shoppers) and Rs15,518 million, or Rs33.58 in keeping with mmbtu, (for RLNG shoppers). Ogra, in its resolution taken previous, had allowed a shortfall of Rs87,326 million, or Rs308.53 in keeping with unit, for the native fuel.
On the other hand, because of the ring-fencing mechanism of RLNG industry, it decided most effective the RLNG carrier price (transportation part) at Rs9,313 million, or Rs20.15, in keeping with unit. Being the aggrieved birthday party in sure problems, SSGC filed a movement for assessment on July 1, 2022 and claimed a earnings shortfall of Rs152,312 million, or Rs538.13 in keeping with unit, inclusive an FY22 shortfall restoration of Rs33,787 million, or Rs119.37 in keeping with unit, for herbal fuel shoppers and Rs21,700 million, or Rs46.96 in keeping with unit, for RLNG shoppers.
SSGC additionally asked Ogra to permit some pieces claimed within the quick petition to mitigate the potential for additional accumulation of fuel building surcharge (GDS), which has been gathered to the track of Rs178 billion (as of June 30, 2020).
Revealed in The Categorical Tribune, November 22nd2022.
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