Islamabad: As per reports, Pakistan’s circular debt in gas sector has hit a significant high level of Rs. 3.3 trillion primarily due to losses being suffered due to gas theft and inefficient system. This was informed to the standing committee on Energy & Petroleum of National Assembly. Members of the committee showed serious concerns on such inefficiencies which are leading to accumulation of circular debt and cautioned that such a situation can ultimately burden the consumers due to higher bills.
SNGPL’s Managing Director was also present it the meeting and stated that UFG Losses now stand at around 5.3% compared to 4.9% for Year 2024 which are still below the benchmark set by OGRA. While Officials from SSGC informed the committee that UFG Losses stand to near 10% and these losses are resulting in Annual Financial losses to the tune of Rs. 30 Billion for SSGC.
Both the State Gas Utility companies are suffering annual losses around Rs. 60 Billion.
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