ISLAMABAD: The All Pakistan Compressed Natural Gas Association (APCNGA) on Friday announced to reduce the commodity price by Rs9 per liter for Islamabad and Punjab.
“New retail price will be around Rs 84.50 per liter,” APCNGA Central Chairman Ghiyas Abdullah Paracha, said in a press release.
He said the decision to reduce price had been taken in view of the prevailing situation in the country and a decline in global oil prices.
Paracha said the pricing of Regasified Liquefied Natural Gas (RLNG) was based on three months average of the Brent “which is to be transferred to us on April 1, but we have taken this step before time to facilitate consumers.”
He hoped that CNG prices would be reduced on April 1, if the situation allowed the association.
The chairman said the association was also working in collaboration with the government for reducing the CNG prices in Khyber Pakhtunkhwa, Sindh and Balochistan. “Hopefully, we will announce good news for local gas users as well.”
Meanwhile, Paracha welcomed the government’s decision of not increasing the price of locally produced gas, and thanked Prime Minister Imran Khan and Special Assistant to the PM on Petroleum Nadeem Babar in that regard.
He said the association is expecting drastic reforms in the gas sector in the coming days and all impediments in their swift implementation would be removed.