Ogra notifies increase in CNG price

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Rs74.44 per kg new price for Region-I; Rs65.78 for Region-II

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved the recommendations of its sub-committee, headed by the law minister, regarding formulation of policy guidelines for fixation of CNG price.

Finance and Economic Affairs Minister Dr Abdul Hafeez Shaikh was chairing the ECC meeting. According to the notification, Ogra has increased the prices of CNG in Region-I (Potohar, KP, Balochistan) by Rs12.80 per kg and in Region-II (Punjab and Sindh) by Rs11.62 per kg. The raise comes into effect from today (Wednesday).

The new price of CNG in Region-I now stands at Rs74.44 per kg and in Region-II, Rs65.78 per kg. Ogra Chairman Saeed Ahmad Khan said that as per the formula approved by the ECC, the profit margin for CNG station owners has been fixed at Rs4.32 per kg; accommodating the electricity cost at the rate of Rs7.22 per kg and operating costs Rs5.20 per kg.

The ECC also approved LPG (Production and Distribution) policy guidelines, 2012, submitted by the Ministry of Petroleum. The approval of the summary is in continuation to the decision by the ECC which considered the draft LPG (Production and Distribution) policy 2012 in its meeting held on October 23, 2012, whereby the Ministry of Law was asked to furnish its detailed comments over the draft. The Ministry of Law approved the draft which was subsequently placed before the ECC for approval.

Courtesy: The News

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