Earlier during the day, the apex court had ordered the regulatory body to review the prices and announce the new prices before November 1.
The court also said that the CNG prices will not be revised on a weekly basis and said there will be no parity of CNG prices with those of petrol.
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my point is that whether it is just announcement or cng owners are agree with CJ announced rate of CNG?
can anyone tell me how Dr asim is holding a public office despite of the fact that he has resigned from senate seat ?
Lets enjoy till it lasts :) stop crying over evrrything
The price change is from the 25th of October not the 1st of November:
http://ogra.org.pk/images/data/downloads/1351189623.pdf
@Iay man so basically what you want to say is that 'i want my car to run on cng because i got here first'..lolz..
Good job SC. it is direct relief for common man. Government has alliance with corrupts and mafia to exploit the common man and consumers. another example is local car manufacturers.
All the self proclaimed economists here should demand a rise of Rs.30 instead of a cut so that the industry can 'flourish' and so CNG becomes accessible to all.
We live in a sad world!
Its cheap and stupid decision. will result into disaster for industry
All you people saying that this price cut will lead to shortage of gas, have you ever thought about the inelasticity of demand for CNG? Even had they raised CNG prices by 30 Rs. the consumption will probably be the same ! until the price is at par with petroleum, the demand will remain inelastic! Now you may face a problem of additional cars that want to be converted to CNG. For this we need a ruling. No car over say 1000 cc be allowed to run on CNG !!! that would solve it !
CJ playing to the galleries again..they don't even have a crude idea of what the OGRA mechanism is for setting price and what the economic implications of this decision will be...the common man will cheer for the CJ, enjoy the short term benefit and the country will pay the price...Cheers...
Its pretty simple...what has this government given us as CITIZENS!!..only vague promises...we will surely commend those who make a difference in our daily lives for the better....the CJ has delivered that with flying colors....Sir Ifikhar Muhammad Chaudhary now i can adamantly say that there is some good out there!!...we PAKISTANIS SALUTE YOU!!!
Well done!! CJ!! your autocratic decision will make front page news tomorrow morning but what you have failed to understand is the economic thought which was invested in this high CNG price to discourage people from the use of this non renewable resource - which is depleting fast!!
I guess all you care about is that how to get the right kind of public projection with taking into account the macro ramification of that action!!!
Cheap CNG will result in more demand which will dry out reserves sooner than later.. CJ is ordering these bad economic decisions for his high rating.
Don't complain when there is no electricity (reduced gas available for power plants) and more unemployment (less gas for industry means temporary workforce and daily wages laid off).
Illiterate about economics, will dictate from the bench.
without the operating profit margin how one survive ?this decision would ultimately lead to strike as anybody who invest money surely wants a return .its a simple logic and common sense and CJ is asking to reduce operating profit margin to 0 ...how is it going to work .will station be providing us gas on a rate that they would be getting from Gas companies..someone has rightly said Pakistan has got no MATCH in the world. 1-Dr.ASIm ( who was a doctor by profession ,was holding ministry of petroleum and was deciding country Petroleum Policy ) 2-Dr firdos ashiq awan ( pshycatric by profession , was holding minsitry of information and now our judges rather than delinking cng prices with petrol ,they have given such an order that would put people into another misery i.e by ordering of 0 operating cost from consumers . Can anyone wants to a go for a job in which he would be earning such amount that would only compensate his travelling cost ?the answer would be definitely NO unless there is saving in Job. So how can we expect that Gas stations would be providing us CNG without keeping in view their profit margin ?all will end in STRIKE or no gas at CNG pumps .CJ zindabad.
The whole nation pray for the longer life of Chief Justice of Pakistan and the Judges of Supreme Court who have ordered to revise the CNG prices downwards and Ogra will reduce the CNG prices by Rs.30 from November 01, 2012.
The interesting point to note that as on whose orders the Ogra was increasing CNG prices?
It means that the Petroleum Minister of PPP Government and people at authority working with Ogra has looted the innocent people with both hands.
And despite doing all wrongs, still PPP wants to come back and rule the country for another tenure?
Pakistan needs a daring President like the Chief Justice Chaudhry Iftikhar and not like Asif Ali Zardari who will rule the country until he has sucked the last drop of the blood of innocent people of Pakistan.
I would request CJ to ask the Supreme Court to institute a case against all those who are responsible in increasing CNG prices from Rs. 25/- per kg onwards and punish them severely and put them behind the bars.
CJ Zinda baad
Great effort by CJ! May Allah Help us more !
@Shoib: No I didnt say that, but a massive Rs. 30 cut, will also lead to cues forming outside CNG stattions. CNG owners would either strike or demand government provide uninturrupted gas supply to fulfil demand. Either way the market will not work, and will eventually lead to shortages.
@Jibran: You can get your answer from Oil producing countries.
I am really really disappointed by the SC decision. Perhaps courts haven't learned a thing from the past. What happened with Sugar Prices case? The same will happen with this decision. We are already facing severest shortage of gas. Industry is closing because the lack of it. There is not enough gas to supply to fertilizer plants, power plants, and to home consumers, and we yearn to squander it for purposes other than the most essential. A couple of days earlier, when I came home after picking up my kids from school, there was no gas in our area throughout the afternoon, and I had to rush to buy 'Rooti' from 'Tandoor' to feed my children. 'Tandoors' were using burning wood instead of gas. There were abnormally long ques of the disgruntled public, and I had to stand in line for at least 30 minutes for my turn.
Jibran you argument does not make any sense. 50% profit is going towards the CNG owners, where in the world do you make 50% profit on the nations fuel?
Since when the judges been qualified to set economic policies?
Reduction in price is a good news. But now it is time to remove it from public use so that there will be no shortages.
@Nadir u think that people were moving to petrol because of high CNG rates? even with the high prices CNG was almost half compared to petrol mileage-wise. rates won't make a difference on Gas Shortage.... altogether closure of CNG pumps would
Since CNG is produced inside the country, should it be given free of cost?
CJ wants millions per month plus hefty perks and privileges, and a brand new Mercedes. In addition to a huge entourage of security personnel similar to the President, Prime Minister and COAS, At the same time, his SC asks for 30% increase in annual budget, which is not audited. On the other hand, the rich don’t pay any taxes. Due to terrorism, instability, and uncertainty, no one wants to invest in the country. Bottom line is the country is not economically viable. Only option left is to print money, in which case everything will become expensive. And CNG price will automatically go back to Rs90. This is simple math.
The ruling mafia is looting masses with open arms. Dr asim did nothing during his tenure as OGDL minister to explore new oil and gas resources,
This is a great news especially for the lower middle class & poor people of the Pakistan. A massive increase in the Petroleum & CNG Prices had created a lot of problems to balanced the budget.
But the reduction in the prices should not be for a short term & Govt. should devise a proper mechanism to determine the prices of the Petroleum Prices.
BUT STILL PEOPLE ARE PAYING A LOT OF MONEY INFORM OF THE INDIRECT TAXES ESPECIALLY WHILE PURCHASING THE FUEL ETC.
i hope this goes through.
Unbelievable, rational policy making and basic economics died today! Now when the gas shortages start when everyone rushes to pump up on CNG then no one will blame the CJ
Yaar miene to aaj hi mehengi Gas dalwai :(
Good news! specially considering the winter gas load-shedding and related inconveniences. This will prove positive on a lot of factors which affect or daily lives monetarily.
VOW !! What a news.