FRIDAY OCTOBER 26: CNG prices drastically reduced: dealers reject notification

ISLAMABAD: Comply-ing with Supreme Court (SC) orders, the Oil and Gas Regulatory Authority (Ogra) on Thursday reduced the price of Compressed Natural Gas (CNG) by Rs 30.90 in region-I and by Rs 30.38 in region-II. According to a notification issued here by Ogra, CNG would be sold at Rs 61.64 per kg in Region-1 which comprises Potohar, Khyber Pakhtunkhwa, and Balochistan while its price would be Rs 54.16 per kg for Region-II (Sindh and Punjab excluding Potohar).
Meanwhile, the All-Pakistan CNG Association (APCNGA) has rejected the price reduction. It is said to have written a letter to the regulatory body in protest. Sources privy to the matter said the association was considering going on strike from Friday. APCNGA has accused the government of hijacking the SC decision with a view to making it controversial, so that the decision regarding CNG prices could not be implemented.
The association has requested the government not to reduce operational cost of the gas, saying it would result in the closure of entire CNG business. Earlier, the Supreme Court of Pakistan had declared the mechanism of linking CNG price with that of imported petrol illegal, directing the Ogra to revise prices.