The Ministry of Petroleum and Pure Assets has stated the Financial Coordination Committee has deregulated the pricing of Compressed Pure Fuel (CNG) in Sindh and Khyber Pakhtunkhwa (KP).
The Oil and Fuel Regulatory Authority (Ogra), which beforehand set CNG costs, will not have that authority.
CNG station house owners within the two provinces now have the facility to set costs and revenue ratios arbitrarily.
The Ministry of Petroleum will make the required amendments to the Ogra Ordinance to implement the choice. It should retain management over the pricing of petrol and all issues pertaining to taxation.
Chairman of the Supreme Council of the All Pakistan CNG Affiliation, Gayas Paracha, stated, “The federal government’s determination will give the dying sector a brand new lease on life. The Rs450 billion business has been saved from destruction.”
Following the choice, CNG might be bought by the litre in Sindh and KP, relatively than by the kilogramme.
The pricing of CNG had already been deregulated in Punjab.
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