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SNGPL Profitability To Reduce In Fiscal Year 2021-2022: OGRA

admin-augaf by admin-augaf
August 21, 2021
in Business
Reading Time: 2 mins read
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SNGPL Profitability To Reduce In Fiscal Year 2021-2022: OGRA

SNGPL Profitability To Reduce In Fiscal Year 2021-2022: OGRA

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Islamabad August 21 2021: Oil and Gas Regulatory Authority (OGRA) has reduced Return On Asset and Deprecation Rate for Sui Northern Gas Pipeline Limited (SNGPL) for the fiscal year 2021-2022.

While determining the SNGPL petition for Revenue Requirement for Fiscal Year 2021-22, OGRA, in its decision dated August 17, 2021 has in line with the tariff regime in vogue, reworked the Rate of Return on Average Net Assets (ROA) for the year 2021-22 at 16.60 percent as compared to the previous ROA rate of 17.43 percent determined up to 2020-21. Reduction in net rate of return will likely to have a negative impact on the profitability of the Company for FY 2021-22.


A L S O || R E A D

OGRA Slashed Operating Margin Of SSGC: PSX


At the same time, OGRA has also advised the reduction in depreciation rates of the various operating assets particularly transmission and distribution network of the company from present rates of nearly 6 percent per annum to rates ranging from 2.5 percent to 5 percent per annum. This will result into increase in asset base of the Company and higher amount of returns over a longer period of time and consequently will have a positive impact on the profitability of the Company.

While the change in rate of depreciation would have a long term impact on the asset base and profitability of the Company, the net adverse impact on the profitability of FY 2021-22 due to reduction of rate is estimated to be PKR 400 Million, as per the management.


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