ISLAMABAD (INP) Much to the dismay of inflation-hit masses, the regulatory bodies concerned have once more approved increase in the tariffs of electricity and natural gas. The National Electric Power Regulatory Authority (Nepra) approved Rs 1.07 per unit hike in power tariff on Wednesday while the Oil and Gas Regulatory Authority (Ogra) also approved increase in gas tariff by up to Rs7.54 per MMBTU. The gas rate increase will be applicable from the first of July, marking the start of the next financial year, while electricity tariff raise will also be implemented from next month, almost doubling the consumers electricity bills. According to sources, power tariffs have been raised on the demand of power distributing companies, under monthly Fuel Adjustment, who claim that power generation cost has increased as a result of increase in furnace oil prices. The gas tariffs hike, which would come into effect from July 1 after governments approval, would be different for domestic, commercial and industrial consumers. Moreover, Sui Northern Gas Pipelines Limited (SNGPL) has been allowed to raise the tariff by Rs 7.54 per MMBTU while the Sui Southern Gas Company (SSGC) would increase the rates by Rs 5.08 per MMBTU. Sources said revealed that both the companies had filed their appeals to Ogra for fixing new price of natural gas for the next financial year in which they took plea that due to increase in price of crude oil and High Sulphur Fuel Oil (HSFO), the exploration cost of natural gas has been increased so it would directly impact on the distribution of the gas. They said a three-member committee comprising Ogra chairman Tauqeer Sadiq, Vice Chairman Mir Kamal Marri and Member Gas Mansoor Muyzaffar Ali heard the arguments form the both gas distribution companies. Both companies maintained that it was not possible for them not to pass the price hike affect over to the consumers so they may be allowed to increase the price, sources added. It is pertinent to mention here that SNGPL demanded an increase of Rs 14.68 per MMBTU but the company was allowed to increase only Rs 7.54 per MMBTU whereas SSGCL demanded the increase by Rs 9.56 per MMBTU but they were allowed to increase only Rs 5.08 per MMBTU, the source added. The SNGPL is in need of Rs 220 billion revenue with its income pegged at Rs 216 billion. The Sui Southern Gas Company will require Rs 146.61 billion in revenue for the next fiscal year with its income to stand at Rs 144 billion. However, both the companies as a whole will have to face a total deficit worth Rs 6.58 billion, an Ogra statement reads. However, total income generation by this hike of SNGPL would stand at Rs 216billion and SSGC would be at Rs 144billion. Moreover, shortfall of both SSGC and SNGPL is Rs 6.58b, which also tells about the revenue requirement and income generation difference of both the companies.