SC: No weekly revision of 
CNG prices

ISLAMABAD — The Supreme Court has restrained the government from pursuing the current policy of assessing Compressed Natural Gas (CNG) prices on weekly basis.

By Afzal Khan

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Published: Fri 26 Oct 2012, 11:46 PM

Last updated: Fri 3 Apr 2015, 1:27 PM

The court passed an interim order on Thursday declaring the policy as against the law and ordered the Oil and Gas Regulatory Authority (Ogra) to announce revised prices by November 1.

The order stated that since CNG is produced locally and has no connection to the international market, operating costs and present profit rate on CNG prices is against the law.

The court said that CNG prices will not be revised on a weekly basis and said there will be no parity of CNG prices with those of petrol.

The report presented by Ogra had stated that owners were making Rs11 per kg profit on Rs20 per kg operating cost on CNG.

news@khaleejtimes.com


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