ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has made a significant move to alleviate the burden on consumers by issuing a notification that slashes the price of liquefied petroleum gas (LPG) by Rs 37 per kilogram.
This price reduction comes hot on the heels of the recent cut in petrol and diesel prices, providing much-needed respite to households grappling with rising energy costs coupled with sky-rocketing inflation in the prices of essential commodities.
As per details, the price of both imported and locally produced LPG has been fixed at Rs 197 per kilogram across the country. Furthermore, the price adjustment extends to LPG cylinders, with a reduction of Rs 438 for domestic cylinders and Rs 1,686 for commercial cylinders. Domestic cylinders will now be available at Rs 2,322, while commercial cylinders can be purchased for Rs 8,933 in the open market of the country.
The LPG Industry Association, represented by Chairman Irfan Khokhar, has commended OGRA’s decision but asserts that further measures could be taken to reduce prices even more. Khokhar suggests treating the LPG industry on par with Liquefied Natural Gas (LNG), which would result in cheaper rates for LPG compared to Sui gas, benefiting a larger segment of the population.
Khokhar also highlighted the adverse consequences caused by the closure of the LPG plant operated by Jamshoro Joint Venture Limited (JJVL). The government has incurred significant financial losses, amounting to billions of rupees, and consumers have been forced to bear the brunt of expensive gas prices as a result. Urgent action is needed to allow the JJVL’s LPG plant to resume operations promptly, thus preventing further losses and ensuring affordable gas for the public.
Irfan Khokhar requested the Prime Minister that the government should provide relief to the LPG sector in a manner similar to LNG in the upcoming annual budget for 2023-2024. By prioritizing the LPG industry and implementing favorable policies, the government can bolster affordability and accessibility for consumers across the nation.
As the nation eagerly awaits the budget announcement, industry stakeholders and consumers are hopeful that the government will heed the calls for greater support, ultimately leading to a more sustainable and affordable energy landscape for all.