LPG prices may fall by Rs1.5 per kg
LPG prices are expected to fall as Saudi Aramco Contract Price has declined by $33 to $589 per ton.
KARACHI:
Liquefied petroleum gas (LPG) prices are expected to fall by at least Rs2,800 per ton or Rs1.5 per kilo as Saudi Aramco Contract Price has declined by $33 to $589 per ton, said Chairman of All Pakistan LPG Distributors Association, Abdul Hadi Khan, on Monday.
“Local producers should also reduce prices in accordance with the reduction in LPG’s international prices. The sale of LPG has dropped by at least 20 per cent due to its high prices and a significant decline in purchasing power of people,” he stated.
Production of LPG stands at 1,700 tons in Pakistan, he said, adding 24,520 tons have been imported during the last seven months from January to July. About 4,800 tons were imported in July alone in two shipments.
He feared that LPG sale will drastically decline to 60 per cent in Khyber- Pakhtunkhwa due to recent rains and floods.
Hadi noted that local producers can play a “positive” role by reducing LPG prices and increasing its production which has been reduced to 1,200 tons due to a shutdown by some producers in the last three months.
Hadi asked the ministries of finance, commerce and petroleum and natural resources to exempt the import of LPG from general sales tax to create a healthy competition in the industry and provide relief to the people. APP
Published in The Express Tribune, August 3rd, 2010.
Liquefied petroleum gas (LPG) prices are expected to fall by at least Rs2,800 per ton or Rs1.5 per kilo as Saudi Aramco Contract Price has declined by $33 to $589 per ton, said Chairman of All Pakistan LPG Distributors Association, Abdul Hadi Khan, on Monday.
“Local producers should also reduce prices in accordance with the reduction in LPG’s international prices. The sale of LPG has dropped by at least 20 per cent due to its high prices and a significant decline in purchasing power of people,” he stated.
Production of LPG stands at 1,700 tons in Pakistan, he said, adding 24,520 tons have been imported during the last seven months from January to July. About 4,800 tons were imported in July alone in two shipments.
He feared that LPG sale will drastically decline to 60 per cent in Khyber- Pakhtunkhwa due to recent rains and floods.
Hadi noted that local producers can play a “positive” role by reducing LPG prices and increasing its production which has been reduced to 1,200 tons due to a shutdown by some producers in the last three months.
Hadi asked the ministries of finance, commerce and petroleum and natural resources to exempt the import of LPG from general sales tax to create a healthy competition in the industry and provide relief to the people. APP
Published in The Express Tribune, August 3rd, 2010.