On Monday, the All Pakistan CNG Association (APCNGA) stated that domestic gas prices are connected to the oil market and with the fall in the global oil prices, there can be a 40% reduction in the local gas price.
Ghiyas Paracha, APCNGA’s Central Chairman said that despite a fall in the global oil price, the gas companies hadn’t slashed the local gas prices and were making billions of rupees daily at the expense of people. He added that an increase in the global oil price is implemented domestically without hesitation but that isn’t the case when prices fall.
He asked the government to take hold of the situation and under Rule 21 issue directives to OGRA to help reduce the price after carrying out public hearings on an immediate basis. He said that OGRA had the legal authority plus the quorum is still there but it could be broken any moment and this would help the gas companies to profit billions at the expense of consumers.
The gas companies are hesitant to grant relief of the reduced prices to customers as they seek to rake in the profits without considering the fact that the masses and the business community are in a dire need of relief, he said.