Business

ISLAMABAD (APP) – Following major cut in petrol price, the government has also reduced the price of CNG by Rs 6 to 7 per kilogram in Punjab, central leader of APCNGA Ghiyas Abdullah Paracha said Monday.

“The commodity will be available at Rs 47/kg at Compressed Natural Gas (CNG) outlets in Punjab from March 1,” he told APP.

He said CNG price was fixed, under a deregulation mechanism, by the government and CNG sector, adding that the current reduction would be implemented on the RLNG-run outlets of the province.

Presently, the number of Regassified Liquified Natural Gas (RLNG)-based CNG stations were around 911 in Punjab and it would reach the 1,500 figure soon, Paracha added.

“This is a major step towards reviving dying CNG industry, for which the business community is highly thankful to Prime Minister Muhammad Nawaz Sharif and Petroleum Minister Shahid Khaqan Abbasi,” he said.

He said CNG stations would help reduce the government’s oil import bill and make the environment pollution free.

He said All Pakistan CNG Association (APCNGA) was confident that the CNG industry would revive under the dynamic leadership of Prime Minister Muhammad Nawaz Sharif.

Paracha said CNG in Punjab would be 30 percent cheap as compared to petrol, which was attracting motorists and transporters.

He hoped that public transporters would slash their fares and pass on benefit of reduced CNG price to passengers.

The APCNGA leader said the government was taking appropriate measures to overcome the prevailing energy crisis and it would succeed in its endeavours soon.