ISLAMABAD - Following the ECC's approval pertaining to CNG prices, Oil and Gas Regulatory Authority (Ogra) has issued a notification, increasing prices by Rs 12.80/kg for Region-1 and Rs 11.62/kg for Region-11 in the light of the pricing formula of the commodity.In its notification, Ogra has increased the prices of the commodity for both the regions. As per the notification of the regulatory authority, CNG price will now be Rs 74.44/kg at the CNG filling stations of Region-1 (Potohar, Khyber Pakhtunkhwa) and Balochistan, and in Region-11 (Sindh and Punjab) Rs 65 78/kg.In accordance with the approved formula on CNG pricing, the profit of filling station owners has been set at Rs 4.32/kg. It has also been decided to give Rs 7.22/kg as cost of electricity and Rs 5.20/kg under the head of operating cost to them.However, the standoff between stakeholders over formulating CNG price guidelines continues with no hope in sight of finding an agreed solution while consumers bear the brunt of unavailability of the commodity despite the fact that the Economic Coordination Committee (ECC) of the Cabinet has endorsed increase in the gas prices across the country.Hinting at going on strike, All Pakistan CNG Association (APCNGA) has rejected the decision on the CNG pricing. APCNGA Senior leader Ghiyas Abdullah Piracha termed it unfair, unjust, illogical and against the interests of the compressed natural gas (CNG) sector. He said the latest CNG pricing decision was one-sided and irrational as it did not accommodate demand for uniform gas prices and taxation as well as right to a just profit margin. He alleged globally accepted accounting principles were violated, CNG filling station owners disallowed to fulfill gas cost and the profit of the CNG filling stations was linked to petrol pumps, which was also unjust. “A cut in taxation could help the CNG sector and the masses, which was ignored, and hike in power tariff was not accommodated,” said Piracha. He was of the view that the sub-committee of the ECC, formed to hammer out the outstanding CNG issue, took the decision before a meeting while the stakeholders were only called to let them know about the decision. “The government seems uninterested in resolving the issue; instead it is bent upon making it more complicated for some reasons,” he said, adding the association would challenge this controversial decision and also announce schedule for protest in favour of their demands, after two days.Interestingly, Adviser to Prime Minister Dr Asim Hussain, while talking to media persons, said he was ready to review and revisit the CNG pricing, but categorically declared that old pricing formula and prices would not be applicable at any cost. He said determination of prices was the mandate of Ogra.

Trending Discussions

Li arrives today for trade push

Nisar may head action plan implementation body

Relations with India

Chinese escape Karachi bomb