Efforts on to regulate LPG prices
ISLAMABAD: The government is taking concrete measures to regulate prices of Liquified Petroleum Gas(LPG) in order to extend relief to masses.
“A summary spelling out an approach to offset shocks in LPG market and maintain the commodity’s price at affordable range for the consumers throughout the year is awaiting approval by the Economic Coordination Committee(ECC),” LPG Distributor Association’s chairman Irfan Khokar told APP.
He said the summery prepared following extensive consultations with all stakeholders was providing for regulating LPG prices by the Oil and Gas Regulatory Authority(OGRA) with periodic prices revision keeping in view relevant factors.
However, he added, a domestic cylinder would remain unchanged for Rs 900 throughout the year, if the associations’s input were accorded approval and the same was also sailed through the ECC meeting.
He said the current local production stood at 1600 tons per day and its demand had soared to 3000 tons per day, necessitating for the government to put matters of LPG market in order and extend relief to consumers.
He said the demand was likely to further exceed if domestic sector was not supplied with smooth gas supply in peak winter season. However, he added, the LPG association would strongly resist upward revision in LPG prices and unlike the past, he vowed, the price would remain unchanged over the winter season, this year.
He was of the view hefty duties and taxes on LPG import was an impediment to the government’s efforts to ensure its stocks at adequate level, thus policymakers should revive matters on this front as well.
He was of the view the OGRA which had fallen short of playing its role, should bind LPG policy marketing companies to import certain percent of quota to bridge supply and demand gap in the country.
Moreover, the concerned authorities were also needed to make effective measures to prevent unjustified raise in LPG prices as consumers were already grappling to make ends meet.
“An increase in LPG price and that is too illegal, is like a thunderbolt for the consumers who hardly meet basic expenses of their households, so government should work out remedial measures to arrest the unbridled trend in LPG prices which are on rising trajectory,” he remarked.