LAHORE: CNG price in Sindh and Punjab has reached a record high of Rs300 per kilogram as private sector is barred from importing liquefied natural gas (LNG) itself, while government failed to ensure the imports on time, an industry representative claimed on Saturday.
“We are forced to use the most expensive LNG in the history,” said Ghiyas Paracha, central leader of All Pakistan CNG Association, adding that lack of timely LNG purchase agreements had pushed the price up.
Speaking to the media after the consultative meeting of the CNG Association, Paracha said the CNG sector had been waiting for the government's green signal to import private LNG for last three years, while the government delayed the import on its reasons.
“The delaying stories are not hidden from anyone. On the other hand in such a situation while the government is giving subsidy of Rs 90-80 per liter on petrol, the business of other competitive fuels especially CNG is ruined.”
He said the industry had appealed to the government to provide subsidy in the price of LNG for CNG consumers, or abolish the subsidy on petrol to set the competitive fuels at the same price.
He further said that the government had closed CNG stations in Punjab on gas shortage, and majority of CNG consumers in Sindh were using petrol instead of CNG, leaving the CNG stations desolate and forcing a shutdown.
Paracha called for immediate measures from the government, saying that billions of rupees invested in CNG business in the country were at risk.
State Bank of Pakistan building in this undated image. — SBP/FileKARACHI: The State Bank of Pakistan on Thursday...
The signing ceremony took place during the BYD Asia Pacific dealer conference event in Xi’an
The image shows a person in Pakistan receiving money from a person in Dubai. — Facebook/Bank AL Habib LimitedLAHORE:...
The MoU was signed by Omer Bin Tariq, country head of Onic Pakistan, and Imran Saleem, general manager ride hailing at...
A representational image of gold bangles. — AFP/FileKARACHI: Gold prices increased by Rs1,500 per tola on Thursday...
US flags hoisted outside the National Mall in Washington, DC. — AFP/FileWASHINGTON: The US economy grew faster than...