Solid steps being taken to revive troubled CNG sector: Shahid Khaqan Abbasi

Lahore: Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi on Wednesday said Compressed Natural Gas (CNG) is an important part of the country’s energy mix which will be promoted. We will not allow any crisis to damage the world’s number one industry and efforts were underway to revive it as possible, he said.

Shahid Khaqan Abbasi said this while speaking at a press conference. Central leader of All Pakistan CNG Association (APCNGA) Ghiyas Abdullah Paracha, Central Chairman APCNGA Captain Shuja Anwar, Senior Vice Chairman Ch. Talib, Brig. Iftikhar Ahmed, Ch. Salah Uddin, Fayaz Gillani, Abid Hayat, Ashar Haleem and others were also present on the occasion.

The Minister said that Government has taken provision of environment-friendly and economical fuel to masses as a challenge, adding that import of LNG will begin from March after which no CNG station would face closure.

Shahid Khaqan Abbasi informed that the price of CNG would be deregulated, it would be linked to crude oil and its price would be 30 percent cheaper as compare to the petrol.

The move will have a positive impact on budget of masses, environment, oil import bill and job market, he added.

He said that revival of CNG would help establish an alternative fuel system which will not be affected by petrol scarcity or vitality of market hence providing relief to masses.

The Minister lauded the CNG sector for taking initiative to import LNG to overcome crisis ensuring that government is fully cooperating in this regard. After arrival of LNG the annual demand of petrol in Punjab would be reduced by almost two billion litres per annum, he said. “We have offered fiscal incentives for import of LNG so that the once vibrant sector can again boom,” he stressed.

He asked other industrial groups to follow the footsteps of CNG sector to settle their energy problems offering all out support.

Speaking on the occasion, Ghiyas Paracha lauded the government’s support for import of LNG for CNG sector terming it the beginning of the end of energy crisis in Pakistan. He said that import of LNG will have a positive impact on all the people and every sector of the country.