OGRA, CNG station owners agree on pricing formula | Pakistan Today

OGRA, CNG station owners agree on pricing formula

The pricing mechanism of the Compressed Natural Gas (CNG) has been agreed upon between the Oil and Gas Regulatory Authority (OGRA) and the CNG stations owners.
The formula will be put forward to the federal government for approval.
According to the new formula, the price of the fuel gas has been fixed at 72.20 per kilogram for the region-1 and Rs63.76/kg for the region-2.
It should be mentioned that region-1 include Khyber Pakhtunkhwa, Balochistan and Potohar areas while region-2 includes Sindh and Punjab except Potohar areas.
The OGRA spokesman said the new formula has been readied in accordance with the directives given by the Supreme Court. The fresh proposals on CNG prices have been sent to the ministry of petroleum for approval.
It is worth noting here that the current price of the gas in region-1 is Rs.61.64 and Rs.54.16 is the current in region-2.
In its order of October 25, the apex court had asked CNG prices to be cut after declaring the linking the CNG prices to the price of petrol as illegal.
The court will hear a case in this connection on December 5. Earlier, in the previous hearing, the Chief Justice Iftikhar Muhammed Chaudhry remarked that OGRA could announce new prices with consultation of stakeholders.

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