LPG Producing Companies have increased gas prices by Rs 1, 243 per tons fixed it at Rs 52, 133 per ton. Resultantly, retail prices of LPG in Lahore have now reached Rs 82 per kg, Rs 84 per kg in Karachi and Rs 87 per kg in Peshawar. The Chairman, All Pakistan LPG Distributors' Association, Abdul Hadi Khan disclosed this in a statement issued on Wednesday.
He said as per new prices, there is an increase of Rs 15 in the 11.8kg domestic cylinder while 45.4 kg commercial cylinder have registered an increase of Rs 57. Hadi strongly condemned this increase by the LPG producing companies termed it unjustifiable in the wake of decreasing international oil prices.
He said that during the first nine months of the current year, LPG companies had increased ex-field prices of the gas by Rs 6, 860 per tons. Further, he labelled the increase as a hurdle in the way of promoting LPG in the domestic market.
He said this sector was playing an important role in reducing the oil import bill and its increasing usage in automotive purpose has reduced the import bill by 20 percent.
Khan also warned that if this trend persists, it could cause a serious reduction in domestic consumption, which is threat to both the LPG industry and other stakeholders. He said the LPG's international contract price was high and it was difficult to import at this price. In addition, 17 million consumers were using LPG in the country and the government should take steps to bring down the prices, he added.
LPG's Association Chairman further proposed the Prime Minister to constitute a task force comprising stakeholders of this industry and the association should submit a detail report on cost of locally produced LPG and profit margin of marketing companies and authorised distributors besides, volume of sales.
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