ISLAMABAD - Prices of CNG would not witness upto Rs 1.23/kg decrease from today if the Supreme Court grants stay order to Federal Board of Revenue (FBR).
Earlier, the Federal Board of Revenue in a review petition submitted with the apex court has sought review over a decision in which the apex court, declaring null and void the collection of additional 9 per cent GST in CNG, had ordered Ogra to issue a notification of new prices of CNG within seven days.
However, the Ogra has not issued this notification till the filing of this story, ostensibly taking advantage of the given seven-day limit. Currently, the natural gas supply to CNG filling stations is suspended in Punjab following a decision of Sui Northern gas pipelines.
Reportedly, CNG filling stations would not find gas during January and February while in March and April they would find gas supply for one day a week.
However, the fate of gas supply restoration during the month of December for the CNG filling stations is dependent on the demand of gas by domestic and industrial consumers, some power plants, tandoors only.
According to sources, high-ups at the Federal Board of Revenue have verbally asked the top guns of the regulatory authority not to issue a new notification pertaining to decrease in CNG prices and advised to wait till the SC grants stay order. And, Ogra taking advantage of the seven-day limit has so for succumbed to the pressure of Federal Board of Revenue and did not decrease the prices of CNG.
The sources further said that if today the SC does not grant stay order to the FBR then new price of CNG in Region-I will stand at Rs 74.25 kg while Rs 66.14 /kg in Region-II.
They also said that Ogra has worked out new prices of CN and today it will issue a notification pertain to decrease in the prices of CNG in the light of SC decision today if supreme court does not grant stay order to the Federal Board of Revenue.