ISLAMABAD: A delegation of All Pakistan CNG Association (APCNGA) led by its chairman Khalid Latif called on Finance Minister Shaukat Tarin at the Finance Division.
Federal Board of Revenue (FBR) Chairman Muhammad Ashfaq Ahmed, Oil and Gas Regulatory Authority (OGRA) Chairman Mansoor Khan, senior officers from the Petroleum Division and representative of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) also participated in the meeting.
The APCNGA chairman briefed the Finance Minster about the operations of the CNG sector in Pakistan. Khalid Latif said that CNG was launched in Pakistan as an environment friendly and alternate fuel with a primary objective to curtail the costly import of petrol. Overall investment in the CNG sector is around Rs450 billion over the last 15 years.
He also underlined the challenges being faced by the CNG sector, at present, due to massive fluctuations in the international prices of Liquefied Natural Gas (LNG) along with depreciation in Pakistani currency 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 APCNGA chairman also presented a comparative analysis between retail prices of CNG and petrol on the occasion.
In his remarks, Shaukat Tarin 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.
Shaukat Tarin constituted a committee comprising FBR chairman, OGRA chairman, representatives of Petroleum Division and All Pakistan CNG Association (APCNGA) chairman to workout options for the optimal solution.
