Ogra announces increase in CNG prices

Price for Region 1 will be Rs74 and Rs69 for Region 2.

ISLAMABAD: CNG prices for Region 1 and Region 2 have been revised and are now Rs74 and Rs69 respectively, announced Oil and Gas Regulatory Authority (Ogra) Chairman Saeed Khan on Tuesday.

Earlier, CNG was priced at Rs72 for Region 1 and Rs68 for Region 2.

The decision was taken during a meeting of Economic Coordination Committee’s (ECC) sub-body, which was headed by Law Minister Farooq H Naek.

All Pakistan CNG Association has rejected the new prices and demanded restoration of old profit margin.

Adviser to the Prime Minister on Petroleum Dr Asim Hussain, while speaking to media, said the authority to set prices rests with Ogra and that the grieved party should come and discuss a solution to end the current crisis.

He added that old profit margin is unacceptable.

Ogra reduced CNG prices after the Supreme Court announced a short verdict on CNG and petrol price assessment case, directing the authority to formulate a new formula while keeping the consumers’ interests in mind.