Sui Gas Companies Face Rs60 Billion Annual Losses Amid Calls for Privatisation
State-owned Sui gas companies in Pakistan are losing Rs60 billion annually due to gas theft and leakages. The National Assembly's Standing Committee on Petroleum has raised concerns regarding the circular debt in the gas sector, which has reached Rs3.283 trillion. Members of the committee are advocating for the privatisation of the gas companies to address these financial issues. Managing Directors of Sui Northern and Sui Southern Gas Companies reported annual losses of Rs30 billion each, attributed to theft and leakage.
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Sui gas companies in Pakistan are incurring annual losses of Rs60 billion due to gas theft and leakages, prompting the National Assembly's Standing Committee on Petroleum to call for their privatisation. The circular debt in the gas sector has escalated to Rs3.283 trillion, with Rs1.452 trillion attributed to late payment surcharges.
Sui Northern Gas Pipelines Limited reported gas losses of 5.27%, while Sui Southern Gas Company noted losses have been reduced from 17% to 10%. The committee highlighted the need for immediate structural reforms to prevent further financial deterioration. Additionally, the Petroleum Division requested Rs4.72 billion for development projects, and lithium reserves were identified in Gilgit-Baltistan.
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