AGL 37.75 Decreased By ▼ -0.40 (-1.05%)
AIRLINK 128.90 Increased By ▲ 3.83 (3.06%)
BOP 7.62 Increased By ▲ 0.77 (11.24%)
CNERGY 4.62 Increased By ▲ 0.17 (3.82%)
DCL 8.51 Increased By ▲ 0.60 (7.59%)
DFML 38.70 Increased By ▲ 1.36 (3.64%)
DGKC 81.00 Increased By ▲ 3.23 (4.15%)
FCCL 32.55 Increased By ▲ 1.97 (6.44%)
FFBL 74.50 Increased By ▲ 5.64 (8.19%)
FFL 12.34 Increased By ▲ 0.48 (4.05%)
HUBC 109.01 Increased By ▲ 4.51 (4.32%)
HUMNL 13.88 Increased By ▲ 0.39 (2.89%)
KEL 4.98 Increased By ▲ 0.33 (7.1%)
KOSM 7.59 Increased By ▲ 0.42 (5.86%)
MLCF 38.25 Increased By ▲ 1.81 (4.97%)
NBP 72.00 Increased By ▲ 6.08 (9.22%)
OGDC 186.98 Increased By ▲ 7.45 (4.15%)
PAEL 25.44 Increased By ▲ 1.01 (4.13%)
PIBTL 7.30 Increased By ▲ 0.15 (2.1%)
PPL 150.00 Increased By ▲ 6.30 (4.38%)
PRL 25.26 Increased By ▲ 0.94 (3.87%)
PTC 17.38 Increased By ▲ 0.98 (5.98%)
SEARL 82.00 Increased By ▲ 3.43 (4.37%)
TELE 7.59 Increased By ▲ 0.37 (5.12%)
TOMCL 32.53 Increased By ▲ 0.56 (1.75%)
TPLP 8.45 Increased By ▲ 0.32 (3.94%)
TREET 16.30 Increased By ▲ 0.17 (1.05%)
TRG 56.10 Increased By ▲ 1.44 (2.63%)
UNITY 28.25 Increased By ▲ 0.75 (2.73%)
WTL 1.33 Increased By ▲ 0.04 (3.1%)
BR100 10,524 Increased By 434.5 (4.31%)
BR30 30,919 Increased By 1410 (4.78%)
KSE100 98,163 Increased By 3589.1 (3.8%)
KSE30 30,607 Increased By 1161.8 (3.95%)

The Ministry of Petroleum and All Pakistan CNG Association (APCNGA) have agreed on a differential of 40 percent between the prices of petrol and Compressed Natural Gas (CNG). This was decided in a meeting of the APCNGA and Petroleum Ministry here on Thursday.
According to a written agreement, the ministry has concluded an arrangement on the following terms with CNG Association:
(I) CNG retail price including Gas Infrastructure Development Cess (GIDC) will be fixed in such a manner that it will result in price at 60 percent of retail petrol price.
(II) No additional GIDC will be levied over and above the agreed parity price differential agreed herein.
(III) The load management of CNG will be reduced by 8 hours with effect from June 16, 2012 ie two full days and 16 hours. (IV) The above parity will be maintained in pursuance of existing CNG price computation formula approved by Oil and Gas Regulatory Authority (OGRA) and (V) this agreement will be maintained for on year commencing June 16, 2012.
Later, Ghyas Abdullah Paracha Chairman APCNGA addressing a press conference told media men that in accordance with the above agreement the government will reduce CNG prices on June 16. He said that CNG sector was consuming only 8 percent of the total available gas against the claims of a certain sector, which asserts that the CNG was consuming over 15 percent of the gas. He said that 322 Million Cubic Feet per Day (MMCFD) gas is being consumed by the CNG sector, which is facilitating around 4 million vehicles across the country.
Paracha added that the CNG association has rejected the government's proposal to bring CNG prices at par with the petrol prices, if the government is allowed to do this CNG sector would collapse, besides losing of billion of rupees investment made by the investors in the sector. "The Petroleum Ministry has assured APCNGA that the agreement would be presented before the next meeting of the Economic Co-ordination Committee of the Cabinet," Paracha maintained.

Copyright Business Recorder, 2012

Comments

Comments are closed.