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Shaukat Tarin Says The Govt Will Resolve Issues In The CNG Sector

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 on Monday.

The meeting was also attended by Chairman of the Federal Board of Revenue (FBR) Muhammad Ashfaq Ahmed, Chairman of the Oil and Gas Regulatory Authority (OGRA) Mansoor Khan, senior officers from the Petroleum Division, and a representative of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

The head of the APCNGA informed the Finance Minister on the CNG sector’s activities in Pakistan. According to Khalid Latif, CNG was introduced in Pakistan as an environmentally benign and alternative fuel with the primary goal of reducing the cost of petrol imports. Over the previous 15 years, about Rs450 billion has been invested in the CNG business.

He also highlighted the problems that the CNG sector is now facing as a result of huge swings in the worldwide price of liquefied natural gas (LNG) and depreciation in the Pakistani rupee, which has rendered CNG comparatively expensive in local markets when compared to petrol. CNG’s appeal as a preferred fuel for local customers has been eroded by rising pricing.

Also read: Government collects 33% less tax on petrol against previous government :Minister

On the occasion, the APCNGA chairman also provided a comparison of CNG and gasoline retail pricing.

Shaukat Tarin noted in his speech that the COVID-19 epidemic had an impact on international petroleum prices, particularly LNG, owing to supply-side interruptions.

“By maintaining the fuel levy at a low, the government has maintained the pressure and offered maximum assistance to the consumers.”

The finance minister reaffirmed his commitment to assisting CNG consumers in finding inexpensive fuel.

Shaukat Tarin formed a group including the chairman of the FBR, the chairman of the OGRA, officials from the Petroleum Division, and the head of the All Pakistan CNG Association (APCNGA) to work out ideas for the best solution.

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