The price of compressed natural gas (CNG) could go up by Rs10 per kilogram from 1st November, media reports said on Monday.
Private TV channel quoting sources said, Oil and Gas Regulatory Authority (OGRA) and All Pakistan CNG Association (APCNGA) are scheduled to meet on Tuesday to fix a new formula on CNG prices in line with the Supreme Court’s order last week.
A final decision, meanwhile, will be made after the Supreme Court’s hearing scheduled for Thursday.
On Thursday last week, the government slashed the CNG prices by Rs30 per kilogram. The decision came after the Supreme Court ordered the regulatory authority to suspended the operating cost and profit of CNG association. The court ruled that the operating cost being charged by the CNG association was unrealistic.
The apex court also asked the government to de-link the prices of CNG from petroleum produces in the international market.
Blog post written by Jazbablog.com