Islamabad September 27, 2021 : A delegation of All Pakistan CNG Association, led by Chairman Mr. Khalid Latif, called on the Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, at the Finance Division today. Chairman FBR Muhammad Ashfaq Ahmed, Chairman OGRA Mansoor Khan, senior officers from the Petroleum Division and representative of FPCCI also participated in the meeting.
The Chairman, All Pakistan CNG Association briefed the Finance Minster about the operations of CNG sector in Pakistan. CNG was launched in Pakistan as an environment friendly and alternate fuel with a primary objective to curtail costly import of petrol. Overall investment in the CNG sector is around Rs. 450 billion over last 15 years.
A L S O || R E A D
NRL Hydrcracker Feasibility For Conversion Of Furnace Oil To Be Completed By December: PSX
He also underlined the challenges being faced by the CNG sector, at present, due to massive fluctuations in the international prices of LNG alongwith depreciation in Pak rupee which has made CNG relatively expensive as compared to petrol in the domestic markets. The surging prices of CNG have undermined its attraction as a fuel of choice for the local consumers. The Chairman also presented a comparative analysis between retail prices of CNG and petrol on the occasion.
In his remarks, the Finance Minister stated that the Covid-19 pandemic affected the international prices of petroleum products including LNG due to supply side disruptions. The government has sustained the pressure and provided maximum relief to the consumers by keeping petroleum levy at the minimum. The Finance Minister reiterated the resolve to help CNG users affordable prices for their fuel.
The Finance Minister constituted a Committee comprising Chairman FBR, Chairman OGRA, representatives of Petroleum Division and Chairman All Pakistan CNG Association to workout options for optimal solution.