CNG price reduced by Rs9 per litre in Islamabad, Punjab

ISLAMABAD: All Pakistan Compressed Natural Gas Association (APCNGA) on Friday announced to decrease the commodity price by Rs9 per liter in Islamabad and Punjab.

New retail price will be at around Rs84.50 per liter, APCNGA Central Chairman Ghiyas Abdullah Paracha said in a press release. He said the price reduction decision had been taken in view of the prevailing situation in the country and the decline in oil prices at international level. Paracha said pricing of Regasified Liquefied Natural Gas (RLNG) was based on three months average of the Brent, which is to be transferred to us on April1, but we have taken this step before time to facilitate the consumers. He hoped that the prices would be reduced on April 1, if the situation allowed. The chairman said the association was also working in collaboration with the government for reducing the CNG prices in Khyber Pakhtunkhwa, Sindh and Balochistan. Hopefully, we shall announce good news for the local gas users as well.

Meanwhile, Paracha welcomed the government decision of not increasing the price of locally produced gas, and thanked Prime Minister Imran Khan and Special Assistant to the PM on Petroleum Nadeem Babar in that regard. He said the association was expecting drastic reforms in the gas sector in the coming days and all impediments in their swift implementation would be removed. With timely implementation of the reforms, the gas prices will come down, which will not only benefit the common man, but also help CNG and other industrial sectors in reducing rates of their commodities.