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CNG price to remain the same until December 17

Posted on December 6, 2012 at 12:23 PM by

As the court hearing regarding the case for CNG price setting formula continues, the court has ordered that the price of CNG will remain unchanged till the next hearing which will be on December 17.

Secretary Petroleum, Dr Waqar Masood informed the court that the Cabinet committee would decide on the price of CNG within two weeks once the audit of filling stations would be complete and that there was no reason for deciding the price before the audit process is completed.

Judges are also not a bit firm on the CNG station owners as one of the judges according to our source said, “if you do not see any profit in the business, go and shut down your pumps and do something else.”

The court had also asked for reports on tax submitted and other details pertaining the CNG stations.

According to the FBR official, the amount collected as tax from CNG stations between 2009 to 2011 amounted to Rs 4.09 billion whereas, 6,471 applications were received by Ogra for the issuance of CNG station license between 2002 and 2011, out of which 6,152 applicants were issued licenses, whereas 380 show-cause notices and 131 warning notices were issued during the same period.

Justice Khawaja remarked saying the court knew the actual operating costs and said the owners had earned Rs31 per kg for four years on the name of operating costs.

He said that deciding on prices was Ogra’s job and if the authority did not work properly, the court would intervene.

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