CNG price cut by Rs 5/litre across Punjab
Qatar and Pakistan had signed a long-term LNG deal
LAHORE (Dunya News) – Compressed natural gas (CNG) price is cut by Rs 5 across Punjab taking per litre cost to Rs 42, Dunya News reported Tuesday.
The price cut is the aftermath of deal made with Qatar pertaining to import of liquefied natural gas (LNG). Ghayas Paracha, president All Pakistan Compressed Natural Gas Association while talking to Dunya News said that imported LNG cost lesser due to reduced rate of oil in international market.
According to the dealers, CNG is being sold across the province at Rs 41.90 per litre which is the lowest of the last eight years.
Locals are have been relieved as CNG is costing at least 35 percent lesser than petrol. The revised price of the gas will be implemented from Wednesday onwards.
Earlier, the association had demanded at least 30 percent difference between prices of petrol and CNG.
In February, Qatar signed a long-term deal with Pakistan to export liquefied natural gas. The deal would see Qatar export up to 3.75 million tonnes of liquefied natural gas a year. This represents around 20 percent of the south Asian country‘s gas requirements.
The Qatar News Agency (QNA) confirmed that the deal had been signed in a statement posted on its website. First supplies of the gas arrived in March.
The deal was signed on the first day of two-day visit to Qatar by Pakistani Prime Minister Nawaz Sharif.
Pakistan is currently facing energy crisis however, the government has assured numerous times and made countless promises to end the outages and supply uninterrupted power within a couple of years.
Federal Minister for Water and Power Abid Sher Ali vowed today to end power outages until 2018.
The Sui Northern Gas Pipelines Limited (SNGPL) has limited resources and has to prioritize in order to meet demands. During winters in 2015, CNG supply was halted to Punjab stations for indefinite period of time to fulfill needs of the domestic customers.
