Lahore : The All Pakistan CNG Association (APCNGA) has lauded the decision of the government to deregulate prices of compressed natural gas (CNG) countrywide terming it a great step which will revive the Rs 450 billion industry.
The government recently approved the deregulation of CNG prices for Sindh and KP on the pattern of Punjab through the re-enactment of an amendment of the Ogra law under which the regulator was required to notify CNG prices, it said.
It has ended the role of Ogra in determining prices leaving pricing issue to the market forces following the suit of Punjab where the prices have already been deregulated, said Central Chairman of APCNGA Ghiyas Abdullah Paracha.
In a statement issued here today, he said that the decision will pave way for healthy competition among the owners of the CNG filling stations which will benefit consumers while it will be attracting investment in the ailing sector.
He said that the decision will resolve many outstanding issues of the CNG industry as the owners of the CNG filling stations would be free to fix price of the fuel.
This will also have a positive impact on the number of litigation in the courts since last four years as a good number of cases would be disposed automatically, he added.
Ghiyas Paracha said that now government will decide the price of gas, electricity and ration of taxes while CNG owners will decide about price of fuel as they will not have to wait for the Ogra decision regarding pricing of the fuel.
He said that now many CNG stations would be able to serve the masses round the clock which will also help reduce pollution in the urban centres.