Profiteers flourish at expense of consumers

Profiteers have become active to take undue advantage of the linking of LPG price to Saudi Aramco Contract Price.


September 05, 2010

KARACHI: Profiteers and black marketeers have become active to take undue advantage of the linking of liquefied petroleum gas (LPG) price to Saudi Aramco Contract Price, stated the Chairman of FPCCI Standing Committee on LPG and All Pakistan LPG Distributors Association, Abdul Hadi Khan, on Saturday.

He noted that some profiteers have started a propaganda regarding the increase in LPG price to earn a windfall profit on Eid.

Hadi pointed out that LPG is selling in the range of Rs80 to 82 per kg, the 11.8kg cylinder is priced at Rs945 while the 45.4kg cylinder is being sold for Rs3,677 in Karachi.

He said the retail price of LPG in Punjab is Rs95 per kg while 11.8kg cylinder is selling at Rs1,121 and 45.4kg cylinder is available at Rs4,313.

In Khyber-Pakhtunkhwa and Swat, LPG is selling at Rs100 to Rs105 per kg, 11.8kg cylinder at Rs1,210 and 45.4kg cylinder at Rs4,654.

Hadi said the prices of LPG are stable in the market despite an increase of Rs9,360 per ton by local producer Oil and Gas Development Company Limited (OGDCL). He pointed out that reliance on imported LPG has increased after a decline in local production by 700 to 800 tons per day.

He praised marketing companies and producers for not increasing LPG prices despite a rise of $55 per ton in international prices.  Hadi said that the decision of Oil and Regulatory Authority (Ogra) to set a maximum price of LPG will benefit consumers and hoped that bona fide distributors will follow its decisions.

Published in The Express Tribune, September 5th, 2010.

COMMENTS (1)

Taimoor | 13 years ago | Reply it is a good newspaper in pakistan.i am very happy to see and read your this newspaper.
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