CNG association rejects OGRA's pricing formula
The CNG association says OGRA's move violates Supreme Court’s ruling.
ISLAMABAD: The CNG association has rejected the new pricing formula recommended by Oil and Gas Regulatory Authority (OGRA, Dunya News reported on Thursday.
The association said that the matter was sub judice, therefore, the prices should not be fixed.
OGRA’s move violates Supreme Court’s ruling, the association said.
On the contrary, the OGRA spokesperson said that the new formula was finalized in the light of SC’s directives.
Earlier today, OGRA forwarded a new formula to petroleum ministry, stating that a consensus was reached among all stakeholders.
According to the formula, the new price of CNG was recommended to be Rs 72.20 and Rs 63.46 per kilo for Region-I (Islamabad, Balochistan and Khyber Pakhtunkhwa) and region-II (Punjab and Sindh) respectively.
It is significant to mention that station owners announced to go on strike after reduction in CNG prices.
