Alright fellows.
The original problem has been identified and rectified accordingly. The culprit was "retarded ignition timing". You couldn't feel it at medium engine load.
Previoulsy it was 13.8 Deg on CNG and 8 Deg on Petrol. Now the advancer has been moved to almost extreme anticlockwise and gas re-adjusted. I am not sure what timing is right now but i would get it confirmed on weekend and post it here for future reference.
The previously lagging and jerking rpm range is now smooth.
I must admit, it was partial my fault for not looking into it in the past. I once advanced it a bit but didnt adjust gas and then reverted back. The guy who fixed it, didnt say anything about valves or so. He just took a test drive and pin pointed in (say) 60 seconds. Another 30 to fix it.
Lastly, i would like to thank all the members who contributed to the thread. Especially Mr. Xulfiqar and Mr. Capsat. Thank you gentlemen for your kind support. Looking forward to your guidance in future as well.
Best Regards,
Nauman