Friday, August 22, 2008
By Jawwad Rizvi
LAHORE: The CNG price is likely to be reduced by Rs 1.50 per kilogram before Ramzan as CNG pump owners voluntary decided to reduce their profit margin in order to provide relief to the people, The News learnt on Thursday.
In a meeting recently held between the stakeholders of the petroleum sector and the government representatives, the CNG owners offered the government to reduce their profit margin by Rs 1.50 per kilogram. The new price of the CNG is likely to be fixed at Rs 45 to Rs 46 per kilogram after the concession.
A senior official of the MPNR has revealed that the new price, after the final approval of the authorities concerned, will be announced in the next week as both the ministry officials and the industry representatives had agreed on the new price.
Earlier, the ministry gave a formula to the CNG industry to provide their input cost. However, the industry rejected the formula, claiming that the government had not mentioned the electricity charges in the formula, asking the government to revise it.
http://thenews.jang.com.pk/top_story_detail.asp?Id=16770
Full Version: Cng Price May Be Reduced By Rs 1.5 Per Kg
CNG price may be fixed between Rs42.5 and Rs45.5
Friday, August 22, 2008
By Khalid Mustafa
ISLAMABAD: The government, industry and OGRA may reach a consensus on CNG prices somewhere between Rs42.5 and Rs45.5 per kg, a senior official told The News.
Earlier, the Ministry of Finance had asked OGRA to fix the CNG prices between Rs42 to Rs43 per kg. “All three stakeholders have progressed on the issue by 60 per cent and more meetings between the government and private sector on the CNG price issue would be held to reach the final decision,” a senior official close to this development told The News.
The official said that there would also be a price difference of Re1 to Rs1.50 of CNG per kg in northern and southern parts of the country keeping in view the transportation and operational cost. The official said this issue also discussed in detail in the meeting of the Economic Monitoring Committee (EMC) held here on Thursday with Finance Minister Naveed Qamar in the chair.
The issue of CNG prices turned into a bitter controversy when Shah Mahmood Qureshi who holds the additional charge of Minister of Petroleum and Natural Resources, announced the incorrect CNG price for the consumers at a press conference on June 30 in the wake of wrong input given by the then DG Gas Saeedullah Shah and financial analyst Hasan Ahmed.
The minister wrongly announced in the June 30 press briefing that the increase in CNG prices was by Rs13 per kg, owing to which CNG dealers pocketed windfall profits out of the faulty announcement and made the life of people miserable.
According to the press release issued later, Ministry of Petroleum, Finance and OGRA jointly briefed EMC about the initial outcome of their negotiations with CNG stakeholders/distributors on the CNG pricing formula. EMC directed that consultation with all stakeholders be completed at the earliest and decisions announced after approval of competent forum.
The EMC directed Ministry of Industries and Utility Stores Corporation (USC) about the release of Ramazan Package on discounted prices during the coming holy month to provide relief to the consumers on essential commodities that also include food items. EMC also directed MINFAL to ensure wheat supply to USC for convenient availability of end-product (atta) to consumers during Ramazan.
Ministry of Industries further informed EMC that available stock of sugar at the moment was 1.428 million tonnes and there was no likelihood of a sugar shortage in the open market.
MINFAL briefed EMC on local urea production and projected import after signing of an agreement with Saudi Arabia. It was reported that instant crop yield conditions after the recent rainfall is good and over all production is likely to improve.
EMC directed that the first imported shipment of urea be provided to NFC for distribution to farmers. EMC directed MINFAL/NFC that mobile sales outlets be arranged, where there is no proper sales outlet facility. MINFAL informed that prices of basmati rice have registered a downslide along with other food items, which are consistently being monitored in terms of available stock position and distribution.
Earlier MINFAL briefed EMC on the subsidy being provided on DAP prices against stocks of local production and estimated import to keep the prices stable and affordable for crop growers. EMC directed MINFAL to fast track wheat import to meet domestic shortfall. MINFAL has signed an agreement with relevant Saudi authorities for urea import to meet domestic crop yield related input.
Earlier EMC directed Ministry of Industries to watch sugar prices and its movement on regular basis since the government has already imposed a ban on export of sugar to keep adequate stocks available for domestic consumption demands, adding that ghee prices also be monitored to keep it stable. Ministry of Industries was advised to be in touch with market leaders in ghee industries for pricing stability and availability of stock to the benefit of consumers.
Finance Minister has directed MINFAL and Ministry of Industries to recheck subsidy figures and examine various options about DAP prices and submit recommendations. MINFAL was further advised to approach EAD for an additional Saudi facility to finance additional procurement of urea including the 300,000 tonnes already approved.
EMC instructed MINFAL to suitably plan utilization and distribution of PL 480 wheat to be imported from US
http://thenews.jang.com.pk/daily_detail.asp?id=131212
Friday, August 22, 2008
By Khalid Mustafa
ISLAMABAD: The government, industry and OGRA may reach a consensus on CNG prices somewhere between Rs42.5 and Rs45.5 per kg, a senior official told The News.
Earlier, the Ministry of Finance had asked OGRA to fix the CNG prices between Rs42 to Rs43 per kg. “All three stakeholders have progressed on the issue by 60 per cent and more meetings between the government and private sector on the CNG price issue would be held to reach the final decision,” a senior official close to this development told The News.
The official said that there would also be a price difference of Re1 to Rs1.50 of CNG per kg in northern and southern parts of the country keeping in view the transportation and operational cost. The official said this issue also discussed in detail in the meeting of the Economic Monitoring Committee (EMC) held here on Thursday with Finance Minister Naveed Qamar in the chair.
The issue of CNG prices turned into a bitter controversy when Shah Mahmood Qureshi who holds the additional charge of Minister of Petroleum and Natural Resources, announced the incorrect CNG price for the consumers at a press conference on June 30 in the wake of wrong input given by the then DG Gas Saeedullah Shah and financial analyst Hasan Ahmed.
The minister wrongly announced in the June 30 press briefing that the increase in CNG prices was by Rs13 per kg, owing to which CNG dealers pocketed windfall profits out of the faulty announcement and made the life of people miserable.
According to the press release issued later, Ministry of Petroleum, Finance and OGRA jointly briefed EMC about the initial outcome of their negotiations with CNG stakeholders/distributors on the CNG pricing formula. EMC directed that consultation with all stakeholders be completed at the earliest and decisions announced after approval of competent forum.
The EMC directed Ministry of Industries and Utility Stores Corporation (USC) about the release of Ramazan Package on discounted prices during the coming holy month to provide relief to the consumers on essential commodities that also include food items. EMC also directed MINFAL to ensure wheat supply to USC for convenient availability of end-product (atta) to consumers during Ramazan.
Ministry of Industries further informed EMC that available stock of sugar at the moment was 1.428 million tonnes and there was no likelihood of a sugar shortage in the open market.
MINFAL briefed EMC on local urea production and projected import after signing of an agreement with Saudi Arabia. It was reported that instant crop yield conditions after the recent rainfall is good and over all production is likely to improve.
EMC directed that the first imported shipment of urea be provided to NFC for distribution to farmers. EMC directed MINFAL/NFC that mobile sales outlets be arranged, where there is no proper sales outlet facility. MINFAL informed that prices of basmati rice have registered a downslide along with other food items, which are consistently being monitored in terms of available stock position and distribution.
Earlier MINFAL briefed EMC on the subsidy being provided on DAP prices against stocks of local production and estimated import to keep the prices stable and affordable for crop growers. EMC directed MINFAL to fast track wheat import to meet domestic shortfall. MINFAL has signed an agreement with relevant Saudi authorities for urea import to meet domestic crop yield related input.
Earlier EMC directed Ministry of Industries to watch sugar prices and its movement on regular basis since the government has already imposed a ban on export of sugar to keep adequate stocks available for domestic consumption demands, adding that ghee prices also be monitored to keep it stable. Ministry of Industries was advised to be in touch with market leaders in ghee industries for pricing stability and availability of stock to the benefit of consumers.
Finance Minister has directed MINFAL and Ministry of Industries to recheck subsidy figures and examine various options about DAP prices and submit recommendations. MINFAL was further advised to approach EAD for an additional Saudi facility to finance additional procurement of urea including the 300,000 tonnes already approved.
EMC instructed MINFAL to suitably plan utilization and distribution of PL 480 wheat to be imported from US
http://thenews.jang.com.pk/daily_detail.asp?id=131212
Gas prices have come down quite a bit since 2 weeks ago.
And they decide to reduce it during Ramzan which is about 10 days from now.
And they decide to reduce it during Ramzan which is about 10 days from now.
wut a load of crap man... ask them to just fix the price at govt approved rates. and this tell me about it when they really lower the proposed price. this is just hogwash
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