OGRA sends new CNG pricing formula to ECC | Pakistan Today

OGRA sends new CNG pricing formula to ECC

Two days after the Supreme Court (SC) orders, the Oil and Gas Regulatory Authority (OGRA) on Sunday sent the compressed natural gas (CNG) pricing formula to the Economic Coordination Committee (ECC). “According to the new formula prices of Rs 72.20 per kg and Rs 63.76 per kg have been proposed in region-I and II respectively,” OGRA Chairman Saeed Ahmed said.The decision on the prices would be made in a committee meeting. The SC had on Friday declared OGRA’s pricing formula void and ordered it to set a new formula for determining prices. Meanwhile, the All Pakistan CNG Association (APCNGA) has demanded OGRA to announce an interim CNG sale price to save CNG station owners from insolvency. “Interim prices would help the authority take time to review audit reports of 3,400 CNG outlets to know average costs and take appropriate decisions,” APCNGA Chairman Ghiyas Abdullah Paracha said in a statement. He said per directions of the SC, the new formula should be acceptable to all stakeholders including the masses. Paracha said the masses as well as owners of CNG stations were facing a hard time since two months. He urged the sub committee of ECC and the petroleum ministry to start consultations with all stakeholders.

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