Immediate determination of CNG prices demanded

Lahore: The All Pakistan CNG Association (APCNGA) on Tuesday demanded speedy determination of CNG prices as the sector is facing heavy losses due to reduced prices.

We cannot wait for the outcome of meeting called by Ogra on Nov 26 to fix the prices of Compressed Natural Gas (CNG) as it will result in more losses, said , Chairman Supreme Council APCNGA.

In a statement issued here today, he said that we cannot wait any more and delaying the matter is not in the interest of any stakeholder therefore meeting should be held without delay as per the directives of the Supreme Court.

He demanded a pricing formula which must be acceptable to all stakeholders; the formula should be designed while keeping the public interest supreme, he said.

We expect that OGRA will determine a price which will save CNG station owners from bankruptcy and at the same time it will lessen the burden on the public reeling under inflation, said Ghiyas Paracha.

He said that Federal government should cut taxes and surcharge to give some relief to the masses and to bring CNG prices at level of 1st of July, 2012.

Government should take steps to save the CNG sector which will help country to save billions of dollars spent on imports of petroleum products, he said.

CNG consumers deserve to buy gas for their vehicles at the reduced prices while CNG sector merits an acceptable formula based on transparent price mechanism, said Paracha.