The Supreme Court of Pakistan on Monday ordered that the current price of compressed natural gas (CNG) be maintained.
During proceedings of the CNG price case, the apex court further directed that all unlawful CNG stations should be closed and a policy regarding pricing should be made within two weeks.
Chief Justice Iftikhar Mohammad Chaudhry directed that all stakeholders should sit together to work out an acceptable formula for fixation of CNG prices for submission in the next hearing.
Justice Iftikhar said that the court has neither fixed the prices nor this is its responsibility. But the court would examine that the cost and profit are at acceptable level while fixing new CNG prices.
The CJ also directed that in the new pricing formula interest of all stakeholders, especially of consumers, should be taken care off.
Salman Akram Raja, counsel for Oil and Gas Regulatory Authority (OGRA), informed the court that the new policy in this regard is being formulated, adding that the OGRA has fixed the prices for the interim period.
Chairman OGRA Saeed Ahmed Khan submitted the report to CNG prices in the apex court. According to the report, OGRA recommended that the price of CNG in region one be raised to Rs74.16/kilo and Rs64.72/kilo in region two.
The SC later adjourned the hearing for two weeks.
Speaking to the media earlier, the OGRA chairman said that OGRA had reservations regarding the CNG forensic audit report. He said that according to the report the price of CNG should be Rs83/kilo while according to OGRA it should be Rs74/kilo.
The chairman added that only ten stations were audited to determine the price of CNG.
