CNG princes in Punjab to decline from March 1

KARACHI: Leader of the CNG sector Ghiyas Paracha on Monday said keeping in view the low import price of LNG, the government had reduced CNG princes in Punjab which would be applicable from tomorrow March 1.

“The is a major step towards reviving dying CNG industry for which the business community is highly thankful to Prime Minister Nawaz Sharif and Petroleum Minister Shahid Khaqan Abbasi,” he said in a statement.

Paracha said that price of CNG would be slashed by Rs 6 to 7 per kg on CNG stations being run on RLNG which will reduce oil import bill and pollution while providing jobs to millions.

He added that the vision of Prime Minister had saved investment worth Rs 350 billion in Punjab while the CNG sector would attract more investment after being revived. Pakistan’s CNG industry will soon reclaim lost title of world’s largest CNG industry due to the support and initiatives of the government backed by the vision of energy managers, he said.

He said that CNG in Punjab would be thirty percent cheaper than petrol, making it attractive for motorists and transporters which will also reduce fares in public transport providing relief to commuters. Paracha hoped that the initiatives of the government will settle gas shortages in the country soon.